The inflation rate in Colombia was recorded at 1.97 percent in July of 2020.

Inflation Rate in Colombia averaged 13.98 percent from 1955 until 2020, reaching an all time high of 41.65 percent in June of 1977 and a record low of -0.87 percent in July of 1955. This page provides - Colombia Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Colombia Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020.

Inflation Rate in Colombia is expected to be 3.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Colombia to stand at 3.20 in 12 months time. In the long-term, the Colombia Inflation Rate is projected to trend around 3.10 percent in 2021, according to our econometric models.

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Colombia Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.97 2.19 41.65 -0.87 1955 - 2020 percent Monthly

Calendar GMT Actual Previous Consensus TEForecast
2020-05-06 01:00 AM Apr 3.51% 3.86% 3.6%
2020-06-06 12:00 AM May 2.85% 3.51% 3.28% 3.3%
2020-07-04 05:00 PM Jun 2.19% 2.85% 2.49% 2.5%
2020-08-06 12:35 AM Jul 1.97% 2.19% 1.8% 1.8%
2020-09-05 05:00 PM Aug 1.97%
2020-10-06 12:00 AM Sep 3.2%
2020-11-06 12:00 AM Oct
2020-12-07 12:00 AM Nov

News Stream
Colombia Inflation Rate Lowest since 2014
Annual inflation rate in Colombia slowed to 2.19 percent in June of 2020 from 2.85 percent in May, below market forecasts of 2.49 percent. It is the lowest reading since January of 2014 due to the coronavirus lockdown and low oil prices. Food inflation eased to 6.55 percent from 7.57 percent and cost for housing and utilities also eased (1.74 percent vs 2.37 percent) while clothing prices went down 1.83 percent (vs 0.33 percent). On a monthly basis, consumer prices fell 0.38 percent, following a 0.32 percent drop in May.
Colombia Inflation Rate at 6-Year Low of 2.85%
The annual inflation rate in Colombia fell to 2.85% in May 2020 from 3.51 in April and less than market expectations of 3.28%. This was the lowest figure since June 2014, amid coronavirus-led lockdown measures. Cost rose less for foods and alcohol (7.57% vs 8.23% in April), alcoholic beverages, tobacco (2.85% vs 3.37%), clothing (0.33% vs 0.9%), housing & utilities (2.37% vs 3.01%), furniture, household & maintenance (0.04% vs 2.09%), transport (1.14% vs 1.63%), recreation & culture (3.07% vs 3.23%), restaurants & hotels (3.37% vs 3.59%), and miscellaneous goods & services (2.5% vs 2.74%). In addition, prices fell much faster for information & communication (-4.89% vs -1.89%). Meantime, inflation was little-changed for education (5.98% vs 5.97%), while cost of health rose more (4.48% vs 4.29%). On a monthly basis, consumer prices unexpectedly declined by 0.32%, the first drop since July 2017, after a 0.16% gain in April and compared with consensus of a 0.09% rise.
Colombia Inflation Slows to 3.51% YoY
Consumer prices in Colombia advanced at a softer pace of 3.51 percent in April 2020 from 3.86 percent in the previous month, as weak demand in services amid a country lockdown weighed mainly on services. The index recorded an unusual 8.23 percent hike in prices of food & beverages, as prices jumped for rise (40.8 percent), oranges (33.7 percent), and fresh vegetables and legumes (27 percent). In contrast, telecom prices dropped 1.89 percent. On a monthly basis, consumer prices increased 0.16 percent after climbing 0.57 percent in March, with food and beverages rising a sharp 2.04 percent amid panic purchases.
Colombia February Inflation Rate Rises to 3.72%
The annual inflation rate in Colombia rose to 3.72 percent in February 2020 from 3.62 percent in the prior month. Prices advanced at a faster pace for food, beverages & tobacco (5.87 percent vs 5.13 percent in January); housing & utilities (3.45 percent vs 3.25 percent); education (6.06 percent vs 5.75 percent); information & communication (1.69 percent vs 1.66 percent); clothing & footwear (1.31 percent vs 1.07 percent); health (3.73 percent vs 3.04 percent); and education (6.06 percent vs 5.75 percent). In contrast, cost eased for transport (3.24 percent vs 3.76 percent); restaurants & hotels (3.72 percent vs 3.94 percent); miscellaneous goods & services (2.67 percent vs 2.87 percent); recreation & culture (3.41 percent vs 3.72 percent); furnishings (2.55 percent vs 2.60 percent); and alcoholic beverages & tobacco (4.83 percent vs 5.39 percent). On a monthly basis, consumer prices were up 0.67 percent, after increasing 0.42 percent in the previous month.

Colombia Inflation Rate
In Colombia, the three main components of the consumer price index are: Housing & Utilities (33.1 percent of the total weight); Food and Non-Alcoholic Beverages (15.1 percent) and Transport (12.9 percent). Others include: Restaurants & Hotels (9.4 percent); Miscellaneous Goods & Services (5.4 percent); Education (4.4 percent) and Information & Communication (4.3 percent). Furnishings, Clothing & Footwear, Recreation & Culture, Alcoholic Beverages & Tobacco and Health account for the remaining 15.4 percent of total weight. The CPI covers the urban population of 38 capital city departments, including some metropolitan areas, which account for the largest population registered in the country and have the most dynamic economic environment in comparison to the remaining cities of the country.