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InstaForex Loprais Team - Official participant of the Dakar rally

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InstaForex Loprais Team - Official participant of the Dakar rally

2017.12.1315:17:00UTC+00COLOMBIA: Government Freezes Prices Of More Than 600 Food Items

The Colombian government ordered a price freeze of more than 600 food items at nine supply centers in the country. The decision affects a wide range of food products - such as grains, processed foods and poultry, beef and fish meats - and should be in place between December 15 and January 15, 2018.

The Minister of Agriculture and Rural Development, Juan Guillermo Zuluaga, said that the move would increase supply, halting the current pace of the inflationary process in the Colombian economy.

In November, the Colombian Consumer Price Index (CPI) rose 4.12% on an annual basis, after a 4.05% increase in October. It was the fastest index rise since May, said the country's statistics office. The Colombian inflation rate remains slightly above the 4% limit set by the central bank for this year.

Despite the increase in general inflation, food prices have been falling in the last few months.

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