We present a comprehensive temporal and spectral analysis of the long Swift GRB120327A afterglow data to investigate the possible causes of the observed early time colour variations. We collected data from various instruments/telescopes in X-ray, ultra-violet, optical and near-infrared bands and determined the shapes of the afterglow early-time light curves. We studied the overall temporal behaviour and the spectral energy distributions from early to late times. The ultra-violet, optical, and near-infrared light curves can be modelled with a single power-law component between 200 and 2x10^4^s after the burst event. The X-ray light curve shows a canonical steep-shallow-steep behaviour, typical of long gamma-ray bursts. At early times a colour variation is observed in the ultra-violet/optical bands, while at very late times a hint of a re-brightening is visible. The observed early time colour change can be explained as a variation in the intrinsic optical spectral index, rather than an evolution of the optical extinction.