Colombia Inflation Rate

Last Release

May 31, 2024

Actual

7.16

Units In

7.16

Frequency

Monthly

Next Release

Jul 08, 2024

Time to Release

26 Days 11 Hours

Highest	Lowest	Average	Date Range	Source
41.65 Jun 1977	-0.87 Jul 1955	13.63 %	1955-2024	N/A

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.

Latest Updates

The annual inflation rate in Colombia stood at 7.16% in May 2024, unchanged from the previous month, compared with market estimates of 7.14%. It remained the lowest figure since January 2022, as costs moderated for housing and utilities (9.14% vs 9.34% in April); transportation (9.07% vs 10.42%); restaurants and hotels (9.76% vs 9.80%); furnishings & household equipment (3.26% vs 3.58%); clothing and footwear (3.34% vs 3.75%); health (6.67% vs 7.18%) and alcoholic beverages & tobacco (8.59% vs 9.72%). Meanwhile, prices accelerated for food (4.40% vs 2.98%), education (11.42% vs 11.40%), and goods and services (5.40% vs 5.35%). On a monthly basis, consumer prices increased by 0.43%, the least in seven months, easing from the prior 0.59%, compared with expectations of 0.42%.