Consumer prices in Colombia advanced at a softer pace of 3.51 percent in April 2020 from 3.86 percent in the previous month, as weak demand in services amid a country lockdown weighed mainly on services. The index recorded an unusual 8.23 percent hike in prices of food & beverages, as prices jumped for rise (40.8 percent), oranges (33.7 percent), and fresh vegetables and legumes (27 percent). In contrast, telecom prices dropped 1.89 percent. On a monthly basis, consumer prices increased 0.16 percent after climbing 0.57 percent in March, with food and beverages rising a sharp 2.04 percent amid panic purchases.
Inflation Rate in Colombia averaged 14.03 percent from 1955 until 2020, 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 May of 2020.
Inflation Rate in Colombia is expected to be 3.50 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 3.20 in 12 months time. In the long-term, the Colombia Inflation Rate is projected to trend around 3.10 percent in 2021, according to our econometric models.