The lowest inflation rate in six decades gives Colombian policy makers the freedom to focus on boosting economic growth, Finance Minister Mauricio Cardenas said.
Colombia has entered a “sustainable low inflation phase” which means policy makers can concentrate their efforts on getting growth to accelerate to its potential rate of 4.8 percent per year, Cardenas said in a March 5 phone interview.
Consumer prices rose 1.83 percent in February from a year earlier, the slowest pace since the government of dictator General Gustavo Rojas Pinilla in 1955, as food, clothing and entertainment costs fell. The median estimate of 23 analysts surveyed by Bloomberg was for inflation of 1.89 percent. Prices rose 0.44 percent from a month earlier.
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