PRESS ROOM
12/4/2024
In March, the Consumer Price Index (CPI) for the food and non-alcoholic beverages division increased by 0.75%.
This variation is 0.05 percentage points higher than the national variation of 0.70%, ranking it as the seventh division with the lowest variation this month.
It is worth noting that although food prices increased this month, this variation is the lowest recorded in the last five years for the month of March.
The foods that contributed most to the increase were fresh fruits at 7.58%, followed by fresh vegetables and legumes at 2.70%.
Food and non-alcoholic beverages showed an annual increase of 1.73%, making this variation the lowest in the last 63 months.
Bogotá D.C., (@Minagricultura, @UPRAColombia, @claudialili76). In March, the food and non-alcoholic beverages division recorded an increase of 0.75% compared to February. This variation is 0.05 percentage points higher than the national variation of 0.70%, ranking it as the seventh division with the lowest variation this month. Additionally, the 0.75% variation is 0.16 percentage points lower than the increase of 0.91% recorded in March 2023. This information is based on data provided by DANE and analyzed by the Rural Agricultural Planning Unit, UPRA.
"The recent CPI data for the food and non-alcoholic beverages division in March reflects significant dynamics in food prices in Colombia. It is evident that certain products, such as fresh fruits and vegetables, are experiencing increases, which may be related to seasonal factors and specific weather conditions. Although there is a decrease in prices for some foods such as chicken, oil, and onions compared to the previous year," said Claudia Cortés, director of UPRA.
Monthly Behavior of Consumer Prices of the Main Foods in March 2024 – Increase
The foods that contributed the most to the price increase in March were fresh fruits with 7.58%, followed by fresh vegetables and legumes with 2.70%. Bananas recorded an increase of 3.58%, oranges 12.56%, and potatoes 2.27%. In contrast, the products that most contributed to the price decrease were poultry meat with -0.69%, edible oils -1.38%, onions -2.63%, tomatoes -2.03%, and cassava -3.23%.
Monthly behavior of consumer prices for key foods in March 2024 – decrease
Year-to-date until March, the division of food and non-alcoholic beverages showed an increase of 1.78%, placing it 0.95 percentage points below the national variation of 2.73%. This variation positions it as the sixth division with the lowest variation year-to-date. The products that contributed the most to the price increase during this period were fresh fruits with 17.97%, followed by fresh vegetables and legumes with 12.22%. Oranges increased by 40.85%, carrots by 47.80%, and rice by 1.59%. On the other hand, the foods that decreased the most in price year-to-date were eggs with -6.72%, edible oils with -4.22%, onions with -10.06%, bananas with -6.13%, and potatoes with -2.55%.
Finally, in March 2024, the division of food and non-alcoholic beverages recorded an increase of 1.73% compared to the same month of the previous year. This variation is 5.63 percentage points below the national variation of 7.36%, positioning it as the second division with the lowest variation in this period. During the last 12 months, the products that contributed the most to the price increase were fresh fruits with 10.04%, poultry meat 6.94%, tomatoes 31.06%, milk 3.52%, and beef and derivatives 1.67%.
UPRA continues to closely monitor the evolution of prices in the country and will provide regular updates on the CPI and other economic variables. These data are essential for consumers, producers, and policymakers to make informed decisions.
