Friday, June 2, 2023

Colombia is among the most expensive countries to live among OECD members.

04:18 PM

Colombia is in the top 10 countries with the highest cost of living among the 38 that make up the Organization for Economic Cooperation and Development (OECD).

According to the most recent measurement made by this block; Argentina leads the ranking with the Consumer Price Index (CPI) which in February increased by 102.5% which citizens pay to cover their needs.

The country led by Alberto Fernández was followed by Turkey (55.2%), Hungary (25.4%), Latvia (20.3%), Lithuania (18.7%), Poland (18.4%), Estonia (17.5%) Czech Republic (16.7%), Colombia (13.3%) and Chile (11.9%).

Considering that the cost of food is what has pushed inflation in most countries; He also provided a breakdown of the OECD to show which members have the highest food intake.

Table Argentina led again, where food had a 103% annual growth. Then Turkey (69%), Hungary (46%), Slovakia (28%), Lithuania (30%), Latvia (25%), Estonia (25%). Poland (24%), the Czech Republic (24%) and Colombia (24%).

It should be noted that in Colombia, the division of costs, which is the most important effort among households, is the food itself. And more recent reports from the Dane, in the foods that grew the most in the basic basket were arracacha (103.9%), onion (75.7%), plantain (48.8%), rice (48%), milk (34%), bread (28%) and eggs (25.6%).

Analysts have commented that the first three months of the year are always those that are most under pressure for the cost of living, since at that time prices are adjusted to the total CPI of the previous year and the increase in minimum wages.

José Antonio Ocampo, the finance minister, stated that the annual growth rate will begin to decline in March and also noted that the cost of living for the low income group has already begun to decline.

Nation World News Desk
Nation World News Desk
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