Colombia annual inflation hits 7.9 pct. in August

The institute says annual inflation was just 5.2 percent in the same month last year.

This year, August prices rose by 0.19 percent over July, up from 0.13 percent gains in 2007.

Colombia's central bank raised its benchmark interest rate by 25 basis points in July in a bid to stem swelling prices.

The bank held the rate at 10 percent at its last meeting on Aug. 15.