Minutes of the Board of Directors
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- Noticias |Headline inflation rose again in September for the third consecutive month, reaching 5.2%, a level last seen at yearend 2024. Core inflation, excluding food and regulated items, remained at 4.8%.Inflation expectations, as measured by surveys and the public debt market, increased in October. Median…
- Noticias |Headline inflation stood at 5.1% in August, while core inflation excluding food and regulated items ended the month at 4.8%, exceeding the technical staff’s forecasts. The largest deviation was seen in food, primarily in perishable items and in the international prices of certain foods and…
- Noticias |Annual inflation in June fell to 4.8% from 5.1% in May, chiefly as a result of waning inflation in the food and regulated baskets. Food inflation fell from 4.7% to 4.3%, mainly due to a reduction in perishables inflation. Regulated products inflation fell from 6.3% to 5.5%, driven by lower…
- Noticias |Between April and May, annual inflation edged down slightly—from 5.2% to 5.1%—while core inflation (excluding food and regulated items) fell mildly from 4.9% to 4.8%. This modest deceleration reflects rigidity in key baskets such as food and services, offset by a small rebound in goods inflation.…
- Noticias |Annual inflation resumed its downward trend between February and March, declining from 5.3% to 5.1%. By components, results were mixed: inflation for goods and food increased, while that for regulated items and services decreased. Core inflation—excluding food and regulated items—continued to…
- Noticias |Annual inflation increased marginally to 5.3% in February, following a three-month period of stability at 5.2%. The most significant increases were observed in the prices of processed foods and certain regulated items, including gas and transportation. Core inflation (excluding food and regulated…
- Noticias |In December, annual inflation remained at 5.2%, unchanged from the levels seen in November. Monthly inflation (0.46%) driven by food price inflation, which climbed from 2.3% to 3.3%, exceeded the expectations of both the market (0.40%) and the technical staff (0.34%). Core inflation, excluding food…
- Noticias |In November, annual inflation fell to 5.2%, below the 5.4% seen in October. Core inflation, excluding food and regulated items, remained close to 5.4%, as a result of persistent inflationary pressures in the services sub-basket (7.3%). The latter is due to upward pressures from the food away from…
- Noticias |Annual inflation dropped from 6.1% to 5.8% between August and September. Leading this decline was the regulated items group, whose annual inflation decreased by one percentage point from 11.1% to 10.1%, mainly driven by the fuels component. Food inflation also registered a significant drop (from 3.…
- Noticias |Annual inflation fell in August to 6.1%, below forecasts by the Bank’s technical staff and the market. This easing was partly driven by lower-than-expected prices in the food basket, with food inflation falling from 5.3% to 3.4% between July and August, primarily resulting from an ample supply of…
- Noticias |Annual inflation rose slightly from 7.16% to 7.18% between May and June. Core inflation excluding food and regulated items decreased from 6.1% to 6.0%, aligning with the technical staff's forecasts. Annual food inflation continued to increase, from 4.4% to 5.3%, driven by climatic factors affecting…
- Noticias |Annual inflation remained unchanged in May at 7.2%, while core inflation (excluding food or regulated items) fell from 6.4% to 6.1%. Annual food inflation was slightly higher than expected, increasing from 3% to 4.4%, owing to a rebound in the prices of some perishable foods whose impact from the…
- Noticias |In March, annual headline inflation reached 7.4%, completing 12 months of consecutive declines from its March 2023 peak of 13.3%. Likewise, inflation excluding food and regulated items significantly decreased and stood at 6.8% in March. The reduction in annual inflation was largely driven by…
- Noticias |Annual headline inflation continued its downward trend during February, standing at 7.7% and exhibiting a cumulative drop of 1.5 percentage points (pp) during the first two months of the year. Likewise, annual inflation, excluding food and regulated items, had a 1.2 pp drop which, coupled with a…
- Noticias |By December, annual inflation had dropped for the ninth consecutive month and closed the year at 9.28%, in line with the technical staff’s December projection. Food and goods (excluding food and regulated items) fronted the inflationary decline, standing at 5% and 7.1% by yearend, respectively.…
- Noticias |Inflation remains on a downward path, falling for eight consecutive months and reaching 10.15% in November. The decrease in the annual food inflation from 10.36% in October to 8.25% in November substantially contributed to moderating headline inflation. In particular, the significant drop in annual…
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Five Directors voted in favor of this decision, and two voted for a 25 basis-point reduction. In its policy discussion, the Board of Directors considered the following elements:
- Noticias |In August, headline inflation stood at 0.7%, above that expected by the technical staff and the market analysts (0.5%). Annual headline inflation came in at 11.4% and core inflation (excluding food and regulated items) at 9.9%. Although both inflation measures continued on a downward trajectory,…
- Noticias |Annual inflation in June stood at 12.1%, one percentage point below that recorded in December 2022. The decrease in inflation has slowed the pace of inflation expectations. The survey of economic analysts for July showed that, according to the sample median, inflation expectations for the 12- and…
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During the 86th session of the Financial System Coordination and Monitoring Committee, held today between the Minister of Finance and Public Credit, the Governor of Banco de la República (the Central Bank of Colombia), the Financial Superintendent, and the Director of the Financial Institutions…
























