Colombia Roundup: Plane crash, Earthquake, hybrid vehicle market boom
Inflation Stabilises at 5.20%
Colombia's inflation rate closed in 2024 at 5.20%, marking a significant drop from 2023’s 9.28%. According to Colombia’s National Administrative Department of Statistics (DANE), inflation has been on a steady decline since peaking at 13.34% in November 2022, Colombia One reports. However, the disinflation process has slowed due to the rising costs of electricity, food, and goods. The lowest inflation rate since November 2021 still far exceeds the 1.16% recorded in December 2020. Sectors like education, restaurants, and utilities continue to see the highest inflation, while entertainment and communication costs have declined.
Colombia rejects Maduro’s election results
Colombia's government has reiterated its stance against recognising the results of Venezuela’s contested July 2024 elections. This came ahead of President Nicolás Maduro's third-term inauguration. Foreign Minister Luis Gilberto Murillo emphasised that the elections lacked transparency and failed to meet democratic standards. “Colombia has adopted a consistent and prudent stance. The past electoral process did not provide guarantees to the participants, nor was it carried out in a transparent manner in accordance with the provisions of the laws and the Constitution of the Bolivarian Republic of Venezuela," El Colombiano quoted Murillo. Despite sending an ambassador to Venezuela, President Gustavo Petro declined to attend the swearing-in ceremony, aligning with international criticism of the electoral process.
Plane crash in Antioquia
All 10 passengers aboard a Cessna 402 aircraft that crashed in Urrao, Antioquia, have been confirmed dead. The plane, en route from Juradó (Chocó) to Medellín, lost communication on January 9, El Heraldo reports. Antioquia Governor Andrés Julián expressed deep sorrow and pledged continued efforts to recover the victims. Relief agencies and the Colombian Air Force are working on-site to transfer the bodies.
5.3 Earthquake Hits Pacific Coast
A 5.3-magnitude earthquake struck Colombia's Pacific coast near Chocó on January 10. The tremor, recorded at a depth of under 30 km, was felt in cities such as Medellín, Quibdó, and Bahía Solano. Two smaller aftershocks followed. The Colombian Geological Service reported that no injuries or structural damage have been recorded so far, El Heraldo reports.
Hybrid and electric vehicle market boom
Colombia's hybrid and electric vehicle market saw record-breaking growth in 2024. Hybrid sales increased by 53.4%, with over 42,000 units sold, while electric vehicle sales surged by 293%, totalling 9,178 units. December 2024 marked the best sales month in history, driven by the introduction of new green models and growing consumer interest. In a report by EL Tiempo, hybrid and electric vehicles now account for 25% of all vehicle deliveries in the country.
