Colombia’s annual inflation rate rose to 6.24 percent in August 2026, driven primarily by housing and food costs, according to national statistics agency DANE. The reading followed a deceleration in July and marks the highest annual figure since July 2024, when inflation stood at 6.86 percent. Consumer prices increased 0.39 percent on a monthly basis, bringing accumulated year-to-date inflation between January and August 2026 to 5.35 percent.
Housing and food pressures
Housing, water, electricity, gas, and other fuels climbed 5.74 percent compared to August 2025, contributing 1.78 percentage points to the annual headline figure. Food and non-alcoholic beverages advanced 6.10 percent over the same period, adding 1.16 percentage points to the annual outcome. Restaurants and hotels recorded an annual increase of 9.36 percent, contributing 1.05 percentage points, while health costs rose 8.30 percent.
Fresh fruit prices jumped 4.95 percent. Potato prices rose 4.32 percent. During the month, electricity charges rose 2.33 percent, which contributed 0.08 percentage points to the monthly consumer price index, while sewage services increased 7.13 percent. In contrast, monthly declines were recorded in water supply at -4.04 percent and gas at -1.29 percent.
City variations and expectations
Price growth varied across urban centers during August 2026, led by Medellin with an annual rate of 7.07 percent, followed by Bucaramanga at 7.03 percent and Pereira at 6.85 percent. At the lower end of the range, Valledupar recorded 5.31 percent and Riohacha posted 4.37 percent.
Catalina Tobon, Strategy and Investment Manager at Skandia, said the categories showing the largest annual decreases are alcoholic beverages and tobacco, food and beverages, and miscellaneous goods and services, due to the pass-through effect of peso appreciation. The headline annual result of 6.24 percent surpassed the 6.10 percent consensus forecast among analysts surveyed by Citi, where individual projections ranged from 5.93 percent by Banco de Bogota to 6.32 percent projected by both Aval Asset Management and Davibank.
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Source: national statistics agency DANE
