TODAY COLOMBIA – Colombia’s National Administrative Department of Statistics (DANE), reported that inflation clocked in at 5.75% during 2016, a slight decrease compared to 2015, when the figure was 6.77%. Like many emerging market economies, Colombia has struggled to balance economic growth and inflation.
The lowest annual inflation occurred in the clothing sector with 3.98%. The healthcare sector, on the other hand, saw the nation’s greatest increase, at 8.14%. This was due to a rise in the prices of medicines, private insurance, supplementary payments, contraceptives, and other health items that largely increased across the board.
Another sector that was strongly impacted was food, which increased by 7.22%, the second highest increase in Colombia. The rise in food prices was also impacted by the truck drivers’ strike