PRESS ROOM
21/8/2024
Food and Non-Alcoholic Beverages CPI Records a Monthly Variation of 0.21% in July
In July 2024, the food and non-alcoholic beverages division recorded a 5.26% increase in the Consumer Price Index (CPI), representing a significant reduction of 7.98 percentage points compared to the 13.24% annual increase observed in July 2023.
Bogotá D. C., (@Minagricultura, @UPRAColombia, @claudialili76). In July 2024, the food and non-alcoholic beverages division showed a monthly variation of 0.21%, which is slightly higher than the national variation of 0.2%. This increase makes this division the fifth with the highest variation for the month; according to analyses by the Rural and Agricultural Planning Unit (UPRA), this year's monthly variation was lower by 0.01 percentage points compared to the -0.22% recorded in July 2023.
The foods contributing most to the price increase in July 2024 were onions (11.62%), potatoes (8.92%), chocolate (6.04%), fish (0.8%), and beef (0.16%). Meanwhile, plantains (-3.41%), fresh fruits (-2.78%), eggs (-0.93%), cheeses (-0.92%), and chicken (-0.35%) significantly contributed to price decreases.
“The results of this analysis reflect the dynamism and complexity of the food market in Colombia. It is crucial to continue monitoring these variations as they have a direct impact on the lives of all Colombians. At UPRA, we will keep working to provide tools that help better understand these fluctuations and support decision-making in the agricultural sector, always aiming to contribute to the country’s well-being,” said Claudia Cortés, Director of the entity.
So far in the year up to July 2024, the food and non-alcoholic beverages division has accumulated a 4.01% increase, 0.31 percentage points below the national variation of 4.32%, making it the sixth division with the lowest variation for the year. This increase is 0.25 percentage points higher than the 3.76% recorded for the same period last year.
The products contributing most to the price increase so far this year are: potatoes (58.46%), chocolate (39.34%), onions (30.17%), fresh vegetables and legumes (17.12%), and fresh fruits (10.73%). Products contributing most to price decreases include: tomatoes (-20.99%), corn and its derivatives (-11.39%), eggs (-7.2%), edible oils (-6.5%), and cassava (-6.11%).
Finally, in the annual variation up to July 2024, the food and non-alcoholic beverages division recorded a 5.26% increase, which is 1.6 percentage points below the national variation of 6.86%. This result is 7.98 percentage points lower than the annual variation recorded in July 2023 (13.24%).
In the analysis of the last 12 months, the products contributing most to the price increase were potatoes (97.39%), chocolate (51.09%), onions (35.85%), fresh vegetables and legumes (17.46%), and fresh fruits (10.28%); while those with the greatest contribution to price decreases were cassava (-18.85%), plantains (-18.11%), edible oils (-13.37%), eggs (-3.48%), and dried legumes (-8.8%).
