Colombia Inflation December 2020


Colombia: Inflation picks up in December

January 5, 2021

Consumer prices rebounded 0.38% over the previous month in December, contrasting November’s 0.15% decline. December’s upturn was largely attributed to rebounding prices for transport, as well as quicker growth in prices for food and non-alcoholic beverages and housing and utilities.

Meanwhile, inflation edged up to 1.6% in December, (November: 1.5%), moving closer to the lower bound of the Central Bank’s target range of 2.0%–4.0%. Meanwhile, annual average inflation declined to 2.5% in December (November: 2.7%). Lastly, core inflation inched down from 2.1% in October to 1.9% in November, the last month for which data is available.

FocusEconomics Consensus Forecast panelists project inflation to end 2021 at 2.8%, which is unchanged from last month’s forecast. In 2022, inflation is seen ending the year at 3.2%.


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Colombia Inflation Chart

Colombia Inflation December 20 20

Note: Year-on-year and month-on-month changes of the consumer price index in %.
Source: Colombia National Statistics Institute (DANE).

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