Inflation Colombia 2004
Average inflation: 5.9%
Current Inflation
Inflation is very high at 5.9%, far above the ECB target.
Peak and Trough
The highest inflation was in February at 6.3%. The lowest inflation was in May at 5.4%.
- Highest month
- February: 6.3%
- Lowest month
- May: 5.4%
- Difference
- 0.9 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food and non-alcoholic beverages with an average of 6.4%. The lowest price increase was in Food and non-alcoholic beverages with an average of 6.4%.
- Highest increase
- Food and non-alcoholic beverages: 6.4%
- Lowest increase
- Food and non-alcoholic beverages: 6.4%
Historical Context
Current inflation is 1.4% lower than the 5-year average of 7.3%. This approaches the lowest level since records began (5.9% in 2004).
- 5-year average
- 7.3%
- 10-year average
- 12.7%
- All-time high (1991)
- 30.5%
- All-time low (2004)
- 5.9%
Trend
Inflation has remained relatively stable. Compared to 2003, the difference is minimal (-1.2 percentage point).
- Change vs. previous year
- -1.2 percentage points
- Largest monthly swing
- April: -2.3 percentage points
ECB Target
Inflation is 3.9% 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 €100 this year will cost approximately €105.90 next year at this inflation rate.
Multi-year trend
Monthly figures 2004
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2003 |
|---|---|---|
| January | 6.2% | -1.2 |
| February | 6.3% | -0.9 |
| March | 6.2% | -1.4 |
| April | 5.5% | -2.3 |
| May | 5.4% | -2.3 |
| June | 6.1% | -1.1 |
| July | 6.2% | -0.8 |
| August | 5.9% | -1.4 |
| September | 6.0% | -1.1 |
| October | 5.9% | -0.7 |
| November | 5.8% | -0.3 |
| December | 5.5% | -1.0 |
| Average | 5.9% |
Data source
Data from OECD. Last updated: 17/12/2025.