Inflation in Colombia regained momentum in April, confirming that the cost of living remains one of the main headaches for households, businesses, and economic authorities.
The annual Consumer Price Index (CPI) reached 5.68%, according to the National Administrative Department of Statistics (DANE), a figure that represents a slight increase compared to March, but one that takes on greater significance given the economic and political context the country is facing.
It is also the highest level since September 2024 and a figure that keeps inflation still far from the 3% target set by the Central Bank (Banco de la Republica).
Price increases were once again felt most strongly in everyday categories for millions of Colombians. Restaurants, transportation, and food led inflationary pressures during April, amid a scenario marked by rising labor costs, higher fuel prices, and international tensions that have hit oil prices.
The latest figure has once again opened the debate between the government of Gustavo Petro and monetary authorities over who is responsible for the inflation rebound and what direction economic policy should take in the coming months.
Colombia’s inflation edges up slightly in April
Inflation behavior in April was mainly driven by price increases in restaurants and hotels, transportation, and food. The impact was felt especially in meals eaten outside the home, urban transportation, beef, eggs, fruit, and potatoes, products that have shown sharp fluctuations in recent weeks.
This was compounded by the increase in gasoline prices, which rose again in April after several months of partial adjustments. The international rise in oil prices, driven by tensions in the Middle East, ultimately passed through to Colombian consumers and increased transportation and goods distribution costs.
In March, meals eaten outside the home rose by nearly 10% year over year; domestic services increased by more than 13%; and urban transportation climbed nearly 11% over the same period. The restaurants and hotels category — which has accelerated over the past three months — made the largest individual contribution to annual inflation across the entire basket during that month.
Some analysts warn that increases in the minimum wage and certain labor costs have continued to pass through to the final prices of services and food. In this regard, Laura Clavijo, an expert at Bancolombia, told newspaper El País that “the effect of minimum wage indexation continues to be high relative to what would be desirable to achieve a faster normalization of inflation.” According to her estimates, the minimum wage increase has already been transmitted by 25% to prices in the economy.
On the other hand, the Central Bank maintains that the economy still shows signs of strong domestic demand and excess spending, factors that complicate a faster reduction in inflation.
#IPC | En abril de 2026, el Índice de Precios al Consumidor registró una variación anual del 5,68%, mientras que la variación mensual fue del 0,78%. pic.twitter.com/dCWW4VtZgr
— DANE Colombia (@DANE_Colombia) May 8, 2026
Who is responsible for rising prices in Colombia?
The new inflation figure once again deepened differences between the Executive Branch and the Central Bank. For months, the government has insisted that high interest rates are slowing economic growth and making credit more expensive for households and businesses. President Gustavo Petro and several members of his cabinet have publicly pressured the institution to accelerate cuts in the cost of money.
However, the Central Bank’s board has defended a more cautious stance. The institution recently decided to keep the interest rate at 11.25% amid the risk that inflation could continue rising this year. According to the issuer, price pressures remain elevated and inflation expectations continue to stay above the official target.
The manager of the issuing bank, Leonardo Villar, and several board members have insisted on the need to preserve the credibility of monetary policy and avoid rushed decisions. Even within the board itself, a debate has begun to emerge over the possibility of reviewing the tolerance range of the inflation target, although the institution officially maintains the 3% goal.
Inflation behavior leaves an uncertain outlook for the coming months. Some analysts believe that the effects of higher fuel prices, food costs, and international volatility could continue pressuring prices for much of the year. Central Bank projections indicate that inflation could continue rising — reaching 6,3% by December — before beginning a gradual slowdown toward 2027.
Meanwhile, April’s figure has become a new obstacle to the government’s ambitions to push for faster rate cuts and accelerate the economy in a pre-election context.
The dispute between the Executive Branch and monetary authorities is expected to intensify in the coming weeks, just as the country faces a scenario of economic slowdown, fiscal uncertainty, and a cost of living that continues to hit the pockets of millions of Colombians.