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Colombia Inflation February 2024

Colombia: Inflation recedes to an over two-year low in February

Inflation receded to 7.7% in February, down from the prior month’s 8.3%. February’s reading represented the weakest inflation rate since January 2022; that said, it remained above the Central Bank’s 2.0–4.0% target band. Looking at the details of the release, the February’s moderation chiefly reflected lower price increases for food and non-alcoholic beverages and for transport.

Consequently, the trend pointed down, with annual average inflation falling to 10.8% in February, below the previous month’s 11.3%. Meanwhile, core inflation waned to 8.1% in February (January: 8.7%).

Finally, consumer prices rose 1.09% in February, a steeper increase than January’s 0.91% one. February’s figure marked the strongest increase in prices in a year.

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