The annual inflation rate in Colombia dropped to 3.80 percent in December 2019 from 3.84 percent in the prior month. It was the lowest inflation rate since August, mainly due to prices of housing & utilities (3.46 percent vs 3.61 percent in November) and food & non-alcoholic beverages & tobacco (5.80 percent vs 6.43 percent). At the same time, inflation was steady for clothing & footwear (at 0.69 percent) and education (at 5.75 percent). Meanwhile, cost rose faster for transport (3.41 percent vs 3.30 percent); information & communication (2.73 percent vs 1.73 percent); recreation & culture (3.70 percent vs 2.82 percent); alcoholic beverages & tobacco (5.48 percent vs 4.96 percent); health (2.82 percent vs 2.76 percent) and furnishings (2.54 percent vs 2.49 percent). On a monthly basis,consumer prices were up 0.26 percent, after increasing 0.10 percent in the previous month. Inflation Rate in Colombia averaged 14.08 percent from 1955 until 2019, 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 3.70 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 3.10 percent in 2020, according to our econometric models.

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Colombia Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
3.80 3.84 41.65 -0.87 1955 - 2019 percent Monthly
2018=100


Calendar GMT Actual Previous Consensus TEForecast
2019-09-06 12:00 AM Aug 3.75% 3.79% 3.83% 3.9%
2019-11-06 12:00 AM Oct 3.86% 3.82% 3.89% 3.8%
2019-12-06 12:00 AM Nov 3.84% 3.86% 3.91% 3.9%
2020-01-04 05:00 PM Dec 3.80% 3.84% 3.84% 3.9%
2020-02-06 12:00 AM Jan 3.80% 3.8%


News Stream
2019-12-06
Colombia Annual Inflation Rate Eases in November
The annual inflation rate in Colombia declined marginally to 3.84 percent in November 2019 from a near two-year high of 3.86 percent in the previous month and below market expectations of 3.91 percent, as cost of food & non-alcoholic beverages slowed (6.43 percent vs 6.87 percent in October). On a monthly basis, consumer prices went up 0.10 percent, easing from a 0.16 percent gain in the prior month and below market forecasts of a 0.17 percent rise. Year-to-date, inflation stood at 3.54 percent, compared to 2.87 percent in the same period of 2018.

2019-11-06
Colombia October Inflation Rate Rises to Nearly 2-Year High
The annual inflation rate in Colombia rose to 3.86 percent in October 2019 from 3.82 percent in the previous month but below market expectations of 3.89 percent. It was the highest inflation rate since December 2017, as cost of food & non-alcoholic beverages increased further (6.87 percent vs 6.48 percent in September). On a monthly basis, consumer prices went up 0.16 percent, easing from a 0.23 percent gain in the prior month and below market forecasts of a 0.19 percent rise. Year-to-date, inflation stood at 3.43 percent, compared to 2.75 percent in the same period of 2018.

2019-10-07
Colombia September Inflation Rises to 21-Month High
The annual inflation rate in Colombia rose to 3.82 percent in September 2019 from 3.75 percent in the previous month and above market expectations of 3.75 percent. It was the highest inflation rate since December last year, as prices of food and beverages increased to 6.48 percent from 6.42 percent in August. Meanwhile, cost slowed for information and communications (1.78 percent compared to 1.82 percent) and alcoholic beverages and tobacco (4.66 percent compared to 4.98 percent). On a monthly basis, consumer prices went up 0.23 percent, after a 0.09 percent gain in the prior month, higher than market forecasts of a 0.16 percent rise. Year-to-date, inflation stood at 3.26 percent, compared to 2.63 percent in the same period of 2018.

2019-09-06
Colombia Inflation Edges Down to 3.75%
The annual inflation rate in Colombia inched down to 3.75 percent in August 2019 from 3.79 percent in the prior month and below market expectations of 3.83 percent. It was the first decline in six months, as inflation for food and beverages declined to 4.98 percent from 5.17 percent in the previous month, falling for the second straight month. Meantime, prices for information and communications edged down to 1.82 percent from 1.83 percent in July. On a monthly basis, consumer prices climbed 0.09 percent, after increasing 0.22 percent in the previous month, also below expectations of 0.15 percent. Year-to-date, inflation stands at 3.03 percent, compared to 2.46 percent in 2018.

2019-08-06
Colombia Inflation Rate Jumps to 19-Month High
The annual inflation rate in Colombia climbed to 3.79 percent in July 2019 from 3.43 percent in the prior month to surpass market expectations of 3.71 percent. It was the highest inflation rate since December 2017, namely due to prices of food & non-alcoholic beverages (5.17 percent vs 5.22 percent) and information & communication (1.83 percent vs 0.07 percent). On a monthly basis, consumer prices went up 0.22 percent, after increasing 0.27 percent in the previous month, also above expectations of 0.15 percent.

2019-07-06
Colombia Inflation Rate Climbs to 17-Month High
The annual inflation rate in Colombia edged up to 3.43 percent in June 2019 from 3.31 percent in the prior month to surpass market expectations of 3.38 percent. It was an 8-month high, as inflation for liquor & tobacco jumped to 5.2 percent (vs 5.1 percent). In contrast, inflation for communications declined to 0.1 percent from 1.9 percent. On a monthly basis, consumer prices went up 0.27 percent, after increasing 0.31 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.

Colombia Prices Last Previous Highest Lowest Unit
Inflation Rate 3.80 3.84 41.65 -0.87 percent [+]
Inflation Rate Mom 0.26 0.10 7.10 -1.49 percent [+]
Consumer Price Index CPI 103.80 103.54 103.80 0.03 points [+]
Core Consumer Prices 103.42 103.11 103.42 36.13 points [+]
Core Inflation Rate 3.42 3.46 9.83 2.66 percent [+]
Producer Prices 120.79 120.31 120.79 60.18 points [+]
Food Inflation 5.80 6.43 35.59 -0.54 percent [+]
Producer Prices Change 6.09 4.01 15.64 -4.09 percent [+]
CPI Housing Utilities 103.46 103.24 103.46 0.07 points [+]
CPI Transportation 103.41 102.92 103.41 44.63 points [+]
Export Prices 117.04 115.60 120.06 0.18 points [+]
Import Prices 122.58 122.68 123.16 0.32 points [+]