China’s exports expand faster in August, underpin economic growth
China’s exports expanded 25 per cent year-on-year in August in US dollar terms.
Bogotá, September 7 - Colombia's consumer prices increased 0.39% in August, according to the country's DANE statistics agency, raising annual price growth to 6.24%, the source reported. This figure exceeded the 0.26% median forecast of analysts surveyed by Reuters and was higher than the 0.17% inflation rate recorded in July. Annual inflation rose from 6.03% in July and came in just above the 6.10% forecast by analysts.
Despite this, inflation remains significantly higher than the central bank's target of 3% plus or minus one percentage point.
The monthly price increases were mainly driven by sectors such as recreation and culture, information and communication, and food and non-alcoholic beverages. However, clothing and footwear prices experienced a slight decline, while education and transport showed the lowest increases. Colombia, the fourth-largest economy in Latin America, is grappling with deteriorating fiscal accounts due to declining revenues and rising spending.
The new right-wing administration of President Abelardo De La Espriella, who assumed office last month, is attempting to form a governing coalition from a fragmented right-wing group to secure a majority in Congress. Currently, the leftist Historic Pact bloc dominates with the highest number of seats.
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