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Perishable food prices dropped 0.09%, fresh fruit climbed 2.38%, with grapes up 12.25%, plantains 3.72%, carrots 9.93%, oranges 6.12%.

In contrast to the year 2021 that ended with inflation of 5.62%, in 2022, historically high annual inflation was recorded for Colombia of 13.12%, that is, 7.5 points higher than the previous year, a peak level that had not been registered since 1999, 23 years ago. The...

While still in line with central bank projects, the uptick brings year-over-year inflation to its highest level since February.

The decision to maintain the current rate was approved unanimously by all seven members of the board of the Banco de la República.

While this was just 0.01% below the rate recorded in March, this represents the fifth straight month of decline.

The consumer price index (IPC) rose by just 0.24% from February to March, putting the 12-month inflation rate at 3.14%, down from 3.37% in February.

For the first time since last September, the inflation rate in Colombia landed within the central bank’s target range.

Food costs, which spiked by 7.22% in 2016, saw the lowest increase this year among major economic cateogories with just a small rise of 1.92% in 2017.

An increase over the past month in the recreation prices (up 0.68%) and housing prices (0.30%) helped to push up the overall consumer price index.

“The dynamics of the domestic demand were weaker than expected” in the third quarter, stated the central bank.