We introduce the rigid and flexible price inflations for Colombia.We classified the CPI items (excluding food and price-regulated) as flexible or rigid according to the duration of their prices.We found that the resulting flexible/rigid baskets resemble the tradable/non tradable and domestic/foreign ones, a fact that arises in other economies as well.We verified that the stylized facts of rigid and flexible inflation dynamics obtained in previous studies for other countries are satisfied in Colombia, and obtained a new set of facts that match the Colombian monetary history, some of which may be common to other Inflation Targeting Small Open Economies.We found, as well, that rigid inflation contains information about expectations and future inflation, and evidence of a structural break in the Colombian Phillips curve, which seems to be related to the start of the free float exchange rate regime.Finally, a Model for Rigid Prices, MPR, replicates some of the important findings.