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Nueva Clasificación del BANREP de la Canasta del IPC y revisión de las medidas de Inflación Básica en Colombia

Author

Listed:
  • Eliana R. González-Molano

    (Banco de la República de Colombia)

  • Ramón Hernández-Ortega

    (Banco de la República de Colombia)

  • Edgar Caicedo-García

    (Banco de la República de Colombia)

  • Nicolás Martínez-Cortés

    (Banco de la República de Colombia)

  • Jose Vicente Romero

    (Banco de la República de Colombia)

  • Anderson Grajales-Olarte

    (Banco de la República de Colombia)

Abstract
En este documento se propone actualizar las desagregaciones del IPC que el Banco de la República monitorea regularmente. Esta nueva clasificación contribuye a la identificación oportuna de las diferentes presiones inflacionarias, está en línea con las prácticas internacionales, es compatible con la Clasificación del Consumo Individual por Finalidades (COICOP), adoptada por el DANE, y facilita la comparabilidad internacional y la comunicación por parte de la autoridad monetaria. Adicionalmente, se evalúan los indicadores de inflación básica monitoreados por el Banco de la República. Para ello, se estudia el desempeño de las medidas actuales y otras propuestas con base a 10 criterios, o características deseables, que deben satisfacer las medidas de inflación subyacente, y se presenta una actualización de los indicadores que actualmente monitorea el equipo técnico del Banco de la República. Las cuatro medidas de inflación básica que actualmente utiliza el Banco de la República muestran aún un desempeño relativamente bueno. Sin embargo, se propone cambiar estos indicadores por tres nuevas medidas que se ajustan a la nueva canasta del IPC, lo cual facilita el proceso de comunicación al estar alineadas con la estructura COICOP y con la nueva clasificación propuesta. **** ABSTRACT: This paper proposes an update of the CPI disaggregations that Banco de la República implements and analyzes regularly. This new classification contributes to the timely identification of different inflationary pressures, it stands in accordance with international practices, it is compatible with the Classification of Individual Consumption According to Purpose (COICOP) and it facilitates international comparability and communication by the monetary authority. Additionally, the core inflation indicators monitored by Banco de la República are evaluated. The performance of the current measures and new ones is studied based on 10 criteria, or desirable characteristics, that the underlying inflation measures must satisfy, and an update of the indicators currently monitored by the Banco de la República technical team is presented. The four measures of core inflation currently monitored by the Banco de la República still have a good performance. However, those measures are replaced by three new measures, according to the recent changes in the CPI basket, which facilitates the communication process by being aligned with the COICOP structure and with the proposed new classification.

Suggested Citation

  • Eliana R. González-Molano & Ramón Hernández-Ortega & Edgar Caicedo-García & Nicolás Martínez-Cortés & Jose Vicente Romero & Anderson Grajales-Olarte, 2020. "Nueva Clasificación del BANREP de la Canasta del IPC y revisión de las medidas de Inflación Básica en Colombia," Borradores de Economia 1122, Banco de la Republica de Colombia.
    • Handle: RePEc:bdr:borrec:1122
    DOI: https://doi.org/10.32468/be.1122
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    References listed on IDEAS

    as
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    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Andres Sanchez-Jabba & Erick Villabon-Hinestroza, 2024. "The measure matters: differences in the passthrough of inflation expectations in Colombia," BIS Working Papers 1205, Bank for International Settlements.
    2. Andres Sanchez-Jabba & Erick Villabon-Hinestroz & Bernardo Romero-Torres, 2023. "Inflation Expectations Measurement and its Effect on Inflation Dynamics in Colombia," Borradores de Economia 1257, Banco de la Republica de Colombia.

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    More about this item

    Keywords

    Inflación; desagregación índice precios al consumidor; banco central; autoridad monetaria; inflación básica; propiedades inflación básica; efectos temporales en precios; Inflation; consumer price index disaggregation; central bank; monetary authority; basic inflation; basic inflation properties; temporary effects on prices;
    All these keywords.

    JEL classification:

    • C00 - Mathematical and Quantitative Methods - - General - - - General
    • C01 - Mathematical and Quantitative Methods - - General - - - Econometrics
    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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