So far in 2022, inflation in Colombia has reached levels not seen since the end of the last century. An important acceleration shown in the month of January of this year reported an increase to 6.94% that would then continue its rise to 10.84% in the month of Augustaccording to a report from National Administrative Department of Statistics (Dane).
“This 10.84% keeps us in two-digit inflation for the second consecutive month (…) There is clearly an acceleration of inflation in August from the different indicators that we are delivering today”.
Juliet Solano
deputy director in charge of Dane
This happens in the midst of a general rise in prices, mainly of food and non-alcoholic beverages (25.57%), restaurants and hotels (15.73%) and furniture (14.75%). Products for home consumption such as plantain, cassava and onion have also increased by more than 100% in recent months.
Colombian inflation 2021 – 2022.
Below you can see a graph of the inflation in Colombia taking into account the last quarter of 2021 and the entire year 2022.
So far in 2022, inflation has risen by 5.13 percentage points from the first eight months of 2021 which has also been strongly influenced by the rise in services such as water, gas, electricity and other fuels.
Accelerated increase in the price of electricity!
So far in 2022, the price of electricity has increased by 25.9% on average, showing an even more pronounced increase in the Caribbean cities of Santa Marta (49.9%), Riohacha (47.1%), Barranquilla (44.4%), Sincelejo (40.7%), Valledupar (40.4%) and Montería (40.4%).
Given this, the president Gustavo Petro expressed on his official Twitter account his disbelief at the increase in electricity prices when we are in a “rainy season and the reservoirs are full”.
“I will summon all the authorities in the energy sector to explain this strange behavior to us. The increases in electricity occur mainly on the Atlantic coast. The Ministry of Mines and Energy will publicly explain to the Caribbean region why Caribbean tariffs grow so substantially”.
Gustavo Petro
President of Colombia
