Colombia’s annual inflation rate was 3.2% in 2018 and has been relatively under control since the beginning of this century.
Coming from a 30% inflation rate in 1990, the government was able to significantly stabilize the increase in consumer prices.
Colombia’s inflation rate dropped below the region’s average in 2010. However, a steep drop in global oil prices in 2014 spurred the depreciation of the peso, which in turn caused an increase in consumer prices.
Source: World Bank