The annual inflation rate in Colombia dropped to 3.18 percent in December 2018 from 3.27 percent in the prior month and slightly below market expectations of 3.20 percent. It is the lowest inflation rate since August, as prices slowed for transport (3.73% vs 4.27% in November); communications (0.28% vs 1.51%) and health (4.33% vs 4.43%). In addition, cost fell for recreation & culture (-1.16% vs 2.15%). On the other hand, inflation picked up mostly for: housing (4.13% vs 3.96%); food (2.43% vs 2.22%) and education (6.38% vs 6.37%). On a monthly basis, consumer prices went up 0.30 percent, following a 0.12 percent increase in November, slightly below market expectations of 0.32 percent. Inflation Rate in Colombia averaged 14.25 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 3.30 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 3.30 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.