Inflation Colombia 2024
Average inflation: 6.6%
Current Inflation
Inflation is very high at 6.6%, far above the ECB target.
Peak and Trough
The highest inflation was in January at 8.3%. The lowest inflation was in November at 5.2%.
- Highest month
- January: 8.3%
- Lowest month
- November: 5.2%
- Difference
- 3.1 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Education with an average of 11.1%. The lowest price increase was in Communication with an average of -0.4%.
- Highest increase
- Education: 11.1%
- Lowest increase
- Communication: -0.4%
Historical Context
Current inflation is around the 5-year average of 6.9%.
- 5-year average
- 6.9%
- 10-year average
- 5.8%
- All-time high (2023)
- 11.8%
- All-time low (2013)
- 2%
Trend
Inflation shows a downward trend. Compared to 2023, inflation has fallen by +5.2 percentage point.
- Change vs. previous year
- -5.2 percentage points
- Largest monthly swing
- March: -5.9 percentage points
ECB Target
Inflation is 4.6% 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 €106.60 next year at this inflation rate.
Multi-year trend
Monthly figures 2024
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2023 |
|---|---|---|
| January | 8.3% | -5.0 |
| February | 7.7% | -5.6 |
| March | 7.4% | -5.9 |
| April | 7.2% | -5.6 |
| May | 7.2% | -5.2 |
| June | 7.2% | -4.9 |
| July | 6.9% | -4.9 |
| August | 6.1% | -5.3 |
| September | 5.8% | -5.2 |
| October | 5.4% | -5.1 |
| November | 5.2% | -4.9 |
| December | 5.2% | -4.1 |
| Average | 6.6% |
Data source
Data from OECD. Last updated: 11/01/2026.