Inflation Colombia 1998
Average inflation: 18.7%
Inflation in 1998
Inflation is very high at 18.7%, far above the ECB target.
Peak and Trough
The highest inflation was in April at 20.7%. The lowest inflation was in November at 16.4%.
- Highest month
- April: 20.7%
- Lowest month
- November: 16.4%
- Difference
- 4.3 percentage points
- Months with data
- 12 of 12
Historical Context
Inflation is 1.7 percentage points lower than the 5-year average of 20.4%.
- 5-year average
- 20.4%
- 10-year average
- 23.7%
- All-time high (1991)
- 30.5%
- All-time low (1984)
- 16.2%
Trend
Over the period 1996-1998, inflation shows a downward trend. Compared to 1997, inflation has risen by 0.2 percentage points.
- Change vs. previous year
- +0.2 percentage points
- Largest monthly swing
- January: -2.8 percentage points
ECB Target
Inflation is 16.7 percentage points above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for COP 100 this year will cost approximately COP 119 next year at this inflation rate.
Multi-year trend
Monthly figures 1998
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 1997 |
|---|---|---|
| January | 17.8% | -2.8 |
| February | 18.0% | -1.6 |
| March | 19.3% | +0.4 |
| April | 20.7% | +2.2 |
| May | 20.7% | +2.1 |
| June | 20.7% | +2.0 |
| July | 20.3% | +2.4 |
| August | 18.9% | +1.0 |
| September | 17.8% | -0.2 |
| October | 17.1% | -0.7 |
| November | 16.4% | -1.4 |
| December | 16.7% | -1.0 |
| Average | 18.7% |
Data source
Data from OECD. Last updated: 17/12/2025.