The annual inflation rate in Colombia edged up to 3.33 percent in October of 2018 from 3.23 percent in September, compared to market expectations of 3.34 percent. Biggest upward pressure came from cost of housing (prices up 4.08 percent compared to 3.93 percent in September), food (2.25 percent compared to 2.05 percent), transportation (4.39 percent compared to 4.21 percent) and education (6.37 percent compared to 6.38 percent). On a monthly basis, consumer prices rose 0.12 percent, following a 0.16 percent increase in September. Inflation Rate in Colombia averaged 14.28 percent from 1955 until 2018, reaching an all time high of 41.65 percent in June of 1977 and a record low of -0.87 percent in July of 1955.
Inflation Rate in Colombia is expected to be 3.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Colombia to stand at 3.50 in 12 months time. In the long-term, the Colombia Inflation Rate is projected to trend around 3.20 percent in 2020, according to our econometric models.