Latest reading: Harmonized consumer prices rose 1.8% in annual terms in September, following a 3.1% rise in the previous month....
Inflation in Colombia
Colombia experienced generally moderate inflation over the last decade that aligned with its central bank's target of 2.0%–4.0%. However, inflation rose into double digits in 2022–2023 due to large currency depreciation, high global commodity prices plus pandemic-induced supply chain disruptions. Inflation has since eased, tempered by elevated interest rates and a stronger currency.
In the year 2024, the inflation in Colombia was 6.61%, compared to 2.90% in 2014 and 11.74% in 2023. It averaged 5.55% over the last decade. For more inflation information, visit our dedicated page.
Colombia Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Colombia from 2025 to 2018.
Source: Macrobond.
Colombia Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 2.5 | 3.5 | 10.2 | 11.7 | 6.6 |
| Inflation (CPI, ann. var. %, eop) | 1.6 | 5.6 | 13.1 | 9.3 | 5.2 |
| Inflation (Core, ann. var. %, eop) | 1.4 | 2.8 | 9.2 | 8.8 | 5.8 |
Inflation rises in September from August
Latest reading: Consumer prices rose 5.2% on a year-on-year basis in September, following a 5.1% rise in the previous month. Relative to the prior month's data, there were higher price pressures for housing and utilities (+4.8% in annual terms vs +4.7% in August) and food and non-alcoholic beverages (+6.2% vs +6.1% in August). In contrast, price pressures reduced for restaurants and hotels in September(+7.5% vs +7.8% in August). Meanwhile, core consumer prices rose 5.3% on a year-on-year basis in September, following a 5.4% rise in the previous month. Finally, consumer prices were up 0.32% in September on a month-on-month basis, following a 0.19% increase in the previous month.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Colombian inflation projections for the next ten years from a panel of 44 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Colombian inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Colombian inflation projections.
Want to get access to the full dataset of Colombian inflation forecasts? Send an email to info@focus-economics.com.
Latest Global Inflation News
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Greece: Inflation slows in September from August -
Cyprus: Consumer prices remain unchanged in September compared to a year earlier Latest reading: Harmonized consumer prices were stable in annual terms in September, following a flat reading in the prior month.... -
Latvia: Inflation stabilizes in September from August Latest reading: Harmonized consumer prices increased 4.2% in annual terms in September, unchanged from the previous month’s reading and among... -
Qatar: Inflation accelerates in September from the prior month Latest reading: Consumer prices increased 1.1% on a year-on-year basis in September, following a 0.7% increase in the previous month.... -
Lithuania: Inflation accelerates in September from August Latest reading: Harmonized consumer prices increased 3.7% on a year-on-year basis in September, following a 3.6% increase in the prior... -
Estonia: Inflation slows in September from the prior month Latest reading: Harmonized consumer prices were up 5.3% in annual terms in September, following a 6.2% rise in the prior... -
Luxembourg: Inflation picks up in September from the prior month Latest reading: Harmonized consumer prices rose 3.1% on a year-on-year basis in September, following a 2.8% rise in the prior...