Colombia Inflation Eases for 2nd Month in December

Colombia’s annual inflation rate rose to 5.35% in January 2026 from 5.10% in December. The increase followed a brief moderation in inflation, with price growth remaining well above the central bank’s 3% target. Inflation accelerated notably in food and non-alcoholic beverages (5.11% vs. 5.07%), housing (4.59% vs. 4.76%), and furnishings (4.12% vs. 3.31%). In contrast, price pressures eased in healthcare (7.38% vs. 7.20%), clothing (2.45% vs. 2.12%), recreation and culture (2.54% vs. 1.85%), and transport (5.79% vs. 5.35%). Inflation also picked up in information and communication, restaurants and hotels, and miscellaneous goods and services, while education inflation was unchanged at 7.36%. On a monthly basis, consumer prices rose 1.18% in January, sharply accelerating from a 0.27% increase in December.

Colombia’s annual inflation rate eased to 5.10% in December 2025 from 5.30% in November, coming in below market expectations of 5.20%. The slowdown followed four consecutive months of rising inflation, though price growth remained well above the central bank’s 3% target. Inflation moderated notably in food and non-alcoholic beverages (5.07% vs. 5.74%), housing (4.76% vs. 5.29%), and furnishings (3.31% vs. 3.50%). In contrast, price pressures accelerated in healthcare (7.20% vs. 6.88%), clothing (2.12% vs. 2.00%), recreation and culture (1.85% vs. 0.57%), and transport (5.35% vs. 5.33%). Inflation also picked up in information and communication, restaurants and hotels, and miscellaneous goods and services, while education inflation was unchanged at 7.36%. On a monthly basis, consumer prices rose 0.27%, up from a 0.07% increase in November but below forecasts for a 0.38% gain.

Colombia’s annual inflation rate slowed for the first time in five months to 5.30% in November 2025 from October’s 13-month high of 5.51%, and came in below market forecasts of 5.45%. Still, inflation remained well above the central bank’s 3% target. Inflation moderated for food and non-alcoholic beverages, marking the softest increase in four months (5.74% vs 6.64% in October), housing (5.29% vs 5.30%), clothing (2.00% vs 2.25%), and recreation and culture (0.57% vs 2.74%). Meanwhile, inflation accelerated for transport (5.33% vs 5.21%), healthcare (6.88% vs 6.50%), furnishing (3.50 % 3.49%), information and communication (1.09% vs 0.69%), education (7.36% vs. 7.34%), restaurants and hotels (7.65% vs 7.61%), and miscellaneous and services (4.79% vs 4.66%). Month-over-month, consumer prices edged up 0.07%, easing from a 0.18% rise in October, softer than forecasts of 0.2%, and marking the lowest level since October 2024, when consumer prices fell by 0.13%.