Colombia's inflation rises at fastest rate in almost 24 years

ISTANBUL

Annual consumer inflation in Colombia rose in November at the fastest rate in almost 24 years, according to official data released Monday.

Consumer prices jumped 12.53% in November, compared to the same month of last year, marking the fastest annual increase since March 1999, said the country's central bank, Banco de la Republica Colombia.

While the market expectation for the figure was an increase of 12.39%, consumer prices showed an annual gain of 12.22% in October.

On a monthly basis, consumer inflation climbed 0.77% in November compared to the previous month.

The market estimate for the figure was to show a monthly gain of 0.63%, while consumer prices gained 0.72% in October from the month before.