Inflation in Colombia would remain high throughout 2026 and exceed 6%, despite signs of monthly moderation

The behavior of the first quarter anticipates a challenging scenario for price control. Photo: Image generated with artificial intelligence.

Inflation in Colombia would remain high throughout 2026 and exceed 6%, despite signs of monthly moderation

TL;DR

  • Inflation in Colombia is expected to stay above 6% through 2026, according to Anif's analysis.
  • The first quarter saw significant monthly price variations, exceeding historical averages and accumulating 3.1% inflation.
  • Services, particularly rents, were the main drivers of annual inflation in March, contributing 3.1 percentage points.
  • Food and restaurants/hotels also contributed significantly to inflation, adding 1.2 and 1.1 percentage points respectively.
  • Structural factors like minimum wage adjustments and external risks such as El Niño and geopolitical tensions pose additional threats.
  • Despite anticipated monthly moderation, inflation is unlikely to reach the central bank's target range this year.