The Minister of Finance, José Antonio Ocampo, stated that Inflation in Colombia peaked and that in March the country will begin to see a lower rate of price increases.
(According to Petro, the slowdown in inflation began.)
This was said after the Dane announced this Saturday the annual variation of inflation for February, which stood at 13.28%.
Although the figure is higher than that of January (13.25%) and February 2022 (8.01%), there is an annual reduction in food inflation that benefits low-income households. In fact, the item that contributed the most to the rise in inflation in the second month of 2023 was education due to tuition, school supplies and pensions, among others.
(Annual variation of inflation reached 13.28% in February).
“I am pleased that the country’s inflation has peaked and, in particular, that the annual rate of inflation for low-income households and agricultural products has been reduced. In March we will begin to see a slower rate of price increase,” wrote the minister hours after the Dane presented the CPI report.
I am pleased that the country’s inflation has peaked and, in particular, that the annual rate of inflation for low-income households and agricultural products has decreased. In March we will begin to see a lower rate of increase in prices
— Jose Antonio Ocampo (@JoseA_Ocampo) March 4, 2023
President Gustavo Petro also stated that “the slowdown in inflation has begun.”
“The inflation ceiling has been reached in January and the slowdown has begun. It is highly important that food is no longer what marks inflation. A further decrease in the price increase is possible for the coming month”, wrote the president on his Twitter account, after the CPI figures were known.
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