The annual inflation rate in Colombia edged down to 3.27 percent in November of 2018 from 3.33 percent in the previous month and compared to market expectations of 3.34 percent. Softer inflation was mainly explained by housing prices (+3.96 percent vs +4.08 percent in October) and health costs (+4.43 percent vs +4.64 percent). Inflation for transport (4.27 percent vs 4.39 percent), communications (1.51 percent vs 1.62 percent) and food (2.22 percent vs 2.25 percent) also nudged the headline lower. In contrast, main upward pressure came from recreation & culture prices, up 2.15 percent from 1.82 percent in October. On a monthly basis, consumer prices rose 0.12 percent for the second month, below market expectations of a 0.17 percent climb. Inflation Rate in Colombia averaged 14.26 percent from 1955 until 2018, 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.
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 3.50 in 12 months time. In the long-term, the Colombia Inflation Rate is projected to trend around 3.20 percent in 2020, according to our econometric models.