Inflation Rate in Colombia decreased to 1.56 percent in February from 1.60 percent in January of 2021. source: Dane, Colombia

Inflation Rate in Colombia averaged 13.87 percent from 1955 until 2021, 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 March of 2021.

Inflation Rate in Colombia is expected to be 1.20 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 2.30 in 12 months time. In the long-term, the Colombia Inflation Rate is projected to trend around 2.70 percent in 2022 and 3.10 percent in 2023, according to our econometric models.

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Colombia Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.56 1.60 41.65 -0.87 1955 - 2021 percent Monthly

Calendar GMT Actual Previous Consensus TEForecast
2020-12-05 05:00 PM Nov 1.49% 1.75% 1.7% 1.7%
2021-01-06 12:25 AM Dec 1.61% 1.49% 1.44% 1.4%
2021-02-06 12:00 AM Jan 1.6% 1.61% 1.62% 1.6%
2021-03-06 12:00 AM Feb 1.56% 1.6% 1.44% 1.4%
2021-04-06 12:00 AM Mar 1.56%
2021-05-06 12:00 AM Apr
2021-06-05 05:00 PM May
2021-07-03 05:00 PM Jun

News Stream
Colombia January Inflation Rate Edges Down to 1.60%
The annual inflation rate in Colombia eased slightly to 1.60% in January of 2021 from 1.61% in December and compared with market expectations of 1.62%. Higher prices of food & non-alcoholic beverages (5.51% vs 4.80% in December) and housing & utilities (1.90% vs 1.81%) were partly offset by a slowdown in costs of health (4.62% vs 4.96%); restaurants & hotels (3.20% vs 3.43%); alcoholic beverages & tobacco (2.39% vs 2.61%) and miscellaneous goods & services (2.18% vs 2.52%). Meantime, inflation remained steady for transport (at 1.35%) while prices fell mostly for recreation & culture (-0.63% vs 0.68%); education (-7.02%, the same pace as in December); clothing & footwear (-4.54% vs -3.94%). On a monthly basis, consumer prices went up 0.41%, after increasing 0.38% in the previous month and slightly below market expectations of 0.44%.
Colombia Inflation Rate Unexpectedly Rises in December
The annual inflation rate in Colombia increased to 1.61 percent in December of 2020 from multi-years lows of 1.49 percent in the prior month and above market expectations of 1.44 percent. Prices advanced further for housing & utilities (1.81 percent vs 1.49 percent in November) and food & non-alcoholic beverages (4.80 percent vs 4.09 percent). On the other hand, transport cost slowed (1.35 percent vs 1.71 percent). On a monthly basis, prices rebounded 0.38 percent from a 0.15 percent fall in the prior month.
Colombia November Inflation Rate Lowest Since 1955
The annual inflation rate in Colombia eased for the eighth consecutive month to 1.49% in November of 2020, the lowest since November of 1955 and below market expectations of 1.7%. Prices slowed mostly for housing & utilities (1.49% vs 1.69% in October); transport (1.71% vs 1.84%); information & communication (0.48% vs 0.88%) and recreation & culture (1.40% vs 2.32%). In addition, costs fell for clothing & footwear (-6.62% vs -2.92%) and furnishings (-1.17% vs -0.75%) due to seasonal discounts; and education (-5.02% vs -4.03%) amid adjustments in costs of tuition and fees at public universities. On a monthly basis, consumer prices went down 0.15%, following a 0.06% drop in October and against market expectations of a 0.05% increase, mainly due to lower prices of clothing & footwear (-3.71% vs -0.13%).
Colombia Inflation Rate Slows to Lowest Since 1955
The annual inflation rate in Colombia declined to 1.75 percent in October of 2020, the least since November 1955, from 1.97 percent in the prior month and below market expectations of 1.96 percent. Housing & utilities inflation eased (1.69 percent vs 1.95 percent in September) while that of food & non-alcoholic beverages slowed to a 18-month low of 3.54 percent in October from 4.13 percent in September. Also, inflation decreased for recreation & cultures (2.32 percent vs 2.74 percent); miscellaneous goods & services (2.51 percent vs 2.76 percent) and information & culture (0.88 percent vs 0.95 percent). Additionally, prices of clothing & footwear fell more (-2.92 percent vs -2.75 percent). On the other hand, transport prices continued to rise (1.84 percent vs 1.07 percent). On a monthly basis, prices edged down 0.06 percent, the first monthly decline since June, after increasing by 0.32 percent in September.

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.