Colombia’s consumer prices rose 0.65 percent in December, bringing full-year 2010 inflation to 3.17 percent, higher than market expectations, the government’s DANE statistics agency says.
Inflation for 2010 was within the central bank’s target of 2 percent to 4 percent. The monetary authority has kept the same range for this year.
Colombia had a 2 percent inflation rate in 2009 and consumer prices increased 0.08 percent in December 2009.
Last month, a central bank poll of analysts revealed expectations of 0.26 percent inflation in December and an average forecast of a 2.76 percent consumer price rise for all of 2010.
The monetary authority has maintained its benchmark interest rate at 3 percent since April in a bid to stimulate growth while inflation forecasts remained low.
The government has said the economy would likely expand around 4.3 percent in 2010, slightly lower than the previous estimate of 4.5 percent. (Reuters)
