Colombia's March inflation closes at 5.56% per Dane

Dane reported that Colombia's annual inflation for March 2026 reached 5.56%, up from 5.29% in February. This is the highest rate since September 2024 at 5.81%. Year-to-date inflation for the first quarter stood at 3.07%.

The National Administrative Department of Statistics (Dane) released March inflation data, which accelerated to 5.56% year-over-year, from 5.29% in February and 5.35% in January.

"Year-to-date, that is, for the first quarter of the year it reached 3.07%, above the 2.62% we reported in the first quarter of last year," said Piedad Urdinola, director of Dane.

Divisions with the highest increases were restaurants and hotels (9.92%), health (7.87%), education (7.54%), alcoholic beverages and tobacco (6.75%), non-alcoholic food and beverages (6.27%), and various goods and services (6.09%). Key contributors to the index were meals at table service and self-service establishments (0.75 percentage points), imputed rent (0.61 pp), and urban transport (0.52 pp).

By city, Pereira had the highest at 6.48%, followed by Medellín (5.98%) and Manizales (5.90%). The lowest were Santa Marta (3.58%), Valledupar (3.65%), and Riohacha (3.69%). Financial market expectations pointed to 5.45%, per 25 entities.

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Illustration showing Colombia's February 2026 inflation at 5.29%, with easing trend chart, food and education price symbols, and Central Bank target.
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Colombia's inflation eases to 5.29% in February 2026

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The National Administrative Department of Statistics (Dane) reported that Colombia's annual inflation for February 2026 was 5.29%, a slight slowdown from January's 5.35%. The monthly Consumer Price Index (CPI) variation stood at 1.08%, driven by rises in education and food. This figure remains above the Central Bank's target range of 3%.

Colombia's National Administrative Department of Statistics (Dane) reported that annual inflation for January 2026 stood at 5.35%, up 13 basis points from January 2025. Driven by lodging services, restaurants, and food, the figure slightly exceeded market expectations. This data will guide the Central Bank's monetary policy decisions.

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Following projections of around 5.2% for year-end 2025, Colombia's National Administrative Department of Statistics (Dane) reported actual annual inflation of 5.1% for December 2025, down 10 basis points from December 2024. This below-expectation figure underscores persistent pressures in housing, services, and food amid minimum wage hikes, as the central bank eyes interest rate moves.

DANE reported a 10.9% unemployment rate for January 2026, the lowest in recent history for a first month of the year, despite a 23% minimum wage increase. Informality dropped to 55%, and the employed population grew by 324,000 people. Yet, these official figures are sparking political polarization.

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The National Administrative Department of Statistics (Dane) revealed that the Economic Tracking Indicator (ISE) grew 3.1% in November 2025 compared to the same month in 2024, marking 18 consecutive months of positive growth. However, the manufacturing sector showed limited progress with 0.7% production growth, while sales fell 0.4%, and retail commerce rose 7.5%. Overall industrial production varied by 1.7%, driven by electricity supply.

Colombia's central bank may hike its policy rate by 50 basis points to 9.75% at its January 30 meeting, according to analysts surveyed by Anif and Corficolombiana. The move would address 2025 inflation of 5.15% and a 23% minimum wage increase that has boosted inflation expectations. The global context, with steady Fed rates and Brazil's policy, shapes the local outlook.

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Chilean economists anticipate a negative or zero variation in the Consumer Price Index (IPC) for December, closing 2025 annual inflation around 3.5% or 3.6%. For the first quarter of 2026, they project convergence below 3%, driven by drops in fuels, food, and electricity. Official data will be released on January 8.

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