Colombia recorded highest inflation since 2016

RIO DE JANEIRO, BRAZIL – On April 5, Colombia’s National Administrative Department of Statistics (Dane) issued the Consumer Price Index (CPI), which shows inflation of 8.53% in the last 12 months.

This new figure exceeds by more than seven seats the one contemplated in the same period in the previous year. The highest was perceived in 2016 when inflation of 8.97% was observed.

Inflation in the first quarter of 2022 is three times higher than in the first three months of 2021, when a variation of 1.56% was reported, compared to the current one that yields 4.36%.

“This inflationary pressure on average during the first three months of the year corresponds to twice the historical average of each monthly CPI variation,” stressed Dane director Juan Daniel Oviedo.

“The monthly behavior of the total CPI in March 2022 (1%) was mainly explained by the monthly variation of the Food and non-alcoholic beverages and Accommodation, water, electricity, gas, and other fuels divisions. The highest variations were presented in the divisions of Food and non-alcoholic beverages (2.84%) and Furniture, household goods, and articles for ordinary household maintenance (1.83%),” the report indicated.

According to Dane, in March 2022, and compared to February of the same year, the city of Medellin in the department of Antioquia was the city with the highest CPI variation with 1.45%.

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