Consumer Inflation
Consumer inflation is the generalized and sustained increase in the prices of the most representative goods and services of household consumption in a country.
Although there are different measures of inflation, when we talk about this phenomenon, we refer to the increase in prices faced by consumers in their regular purchases.
To measure consumer inflation, DANE periodically monitors a market basket that currently consists of 443 items, which are intended to reflect the usual consumption in Colombia and that varies over time (approximately every ten years) according to the change in household consumption patterns. All this information is grouped in a weighted manner in an indicator known as the consumer price index (CPI), which monitors the evolution of this index on a monthly basis. The positive variation of the CPI is known as consumer inflation.
