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Following massive spikes in the 1990s, Colombia’s inflation rate has been relatively stable over the past 15 years.
Coming from a 19% inflation rate, the subsequent administrations of Andres Pastrana (1998-2002), Alvaro Uribe (2002-2010) and Juan Manuel Santos (2010-2018) were able to significantly stabilize consumer price influxes.
Colombia’s inflation rate dropped below the region’s average in 2010. However, a steep drop in global oil prices in 2014, spurred the devaluation of the peso, which in turn caused am increase in consumer prices.
Colombia’s inflation compared to world and regional average
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