Inflation in Colombia in April 2022 – Sectors – Economy

As announced by the National Administrative Department of Statistics (Dane), the cost of living for Colombians increased by 1.25 percent in April 2022a figure higher than the 0.59 percent of the same period of the previous year.

This figure was above market expectations.

(You can also read: Standard & Poor’s maintained Colombia’s rating)

With this, the year-to-date variation reached 5.66 percent, higher than the 2.16 percent of the same period of the previous year, and the annual variation exceeded the threshold of 9.23 percent, while in the same period of the year Previously it had been 1.95 per cent.

Juan Daniel Oviedo, director of Dane, explained this is the highest annual inflation since July 2000, when the figure reached 9.29 percent.

“This is the highest inflation in the last 21 years,” he stressed.

By income level, those who are suffering the most from this blow are poor people, with 11.26 percent annual inflation. The increase in prices for the vulnerable has been 11.07 percent, for the middle class 9.43 percent and for people with high incomes, 7.46 percent.

What increases the most

The director of the statistical entity indicated that the monthly behavior originated mainly from the variation registered in the clothing and footwear division, which grew 2.99 percent.

Later, it was followed by the category of food and non-alcoholic beverages, which registered an increase of 2.75 percent. This figure was 2.2 times the historical inflation of this item.

Food explained 51 basic points of monthly inflation. Rice represented 7 points, milk 6 and beef another 6Oviedo said.

Behind was the branch of goods and services for households and their conservation, with a variation of 1.46 percent. And recreation and culture, with a monthly increase of 1.18 percent.

Meanwhile, the variation of restaurants and hotels was 1.09 percent. Oviedo said that the corrientazo, the empanada and the hamburger were the ones that contributed the most.

The category of miscellaneous goods and services increased by 0.96 percent and that of health another 0.87 percent.

The lodging, water, electricity and gas category also grew another 0.82 percent. In this sense, Oviedo indicated that the leases contributed 10 basic points, electricity 6 points and home gas another 4.

Food has grown 26.17 percent

If we compare it with a year ago, the group of food and non-alcoholic beverages is the one that has risen the most. Its annual variation reached 26.17 percent.

It is followed by the category of restaurants and hotels (14.37 percent) and furniture, household items (11.76 percent).

Meanwhile, transportation has risen 7.68 percent, miscellaneous goods and services 7.37 percent and health 6.45 percent.

The only item that has fallen compared to the same period of the previous year is that of information and communication, with a negative variation of 10.01 percent.

The cities with the highest inflation

By cities, those that registered a greater monthly variation in April were Popayán (1.66 percent), followed by Sincelejo (1.57 percent) and Valledupar (1.57 percent).

On the contrary, with the lowest monthly increase are Santa Marta (1.02 percent), followed by Medellín (1.07 percent) and Pereira (1.09 percent).

Regarding the annual increase, those that lead are Santa Marta, with an increase of 12.29 percent; followed by Cúcuta with 12.28 percent and Popayán with 11.95 percent.

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