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%, reflecting persistent inflationary pressures in the services sector.For 2025, inflation is expected to continue converging toward the target,…
OLD Prices, inflation and monetary policy
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In the third quarter, headline inflation continued to decrease and is expected to continue doing so gradually to reach 3.0% by the end of 2025.
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Rent is the most important CPI component for Colombian households, representing approximately one-fourth of the household’s index expenditures. Price increases for this component exhibit signifcant inertia because they are indexed to the headline infation of the prior year. In turn, this…
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The global economy experienced a substantial rise in infation in the aftermath of the COVID-19 pandemic and ensuing disruptions in the international supply chain, in addition to the impact on international energy prices resulting from the war between Russia and Ukraine. In emerging economies,…
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In August 2024, it was projected that family remittance income received in Colombia surpassed USD 1000 million for three consecutive months, an amount of USD 187 million above the monthly average for 2023. The sustained increase of this external income has enhanced the signifcance of this…
- 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.…
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Inflation continues to decline, although it is still above the 3% target. Monetary policy measures and correcting factors that pushed prices up are helping inflation to continue approaching the target. Economic activity is recovering to a sustainable level, unemployment has decreased, and the…
- Noticias |Annual inflation in September stood at 5.8%, down from 6.1% in August. Core inflation, excluding food and regulated items, remained stable at around 5.5%, driven mainly by persistent inflation in the services basket.The technical staff has revised its 2024 total inflation projections downward to 5.…
- Publicación |Transparency is often emphasized as a key element for central bank independence and the effectiveness of monetary policy. Between 2018 and 2019, the Central Bank of Colombia (Banco de la República) undertook a significant overhaul of its monetary decision-making process, which led to significant…
- Publicación |This paper evaluates seven output gap models for real-time estimates, based on three criteria: stability of estimations on new observations, data revisions and/or methodological changes; inflation forecasting accuracy; and potential output response to structural economic shocks.
- 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 in August was 6.1%, below market expectations. The decline was driven by lower-than-expected prices in the food basket due to strong supply performance as well as in the regulated items basket owing to smaller adjustments in some public service prices.
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During the second quarter, headline inflation remained stable, while core inflation (the measure of inflation that excludes temporary movements in the prices of food and regulated items) continued to decline. The aggregate effects of monetary policy, together with low exchange rate pressures,…
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After facing the adverse effects brought on by the COVID-19 pandemic, in 2021 and 2022 the Colombian economy grew at a remarkable pace, reflected in a widening of the current account deficit to levels close to its historical maximums (-5.6% and -6.1% of GDP, respectively). In…
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During the second quarter, headline inflation remained stable, while core inflation continued to fall. Inflation would continue its measured downward path to meet its 3.0% target by the end of 2025.
- Noticias |
Followers of monetary policy and inflation are familiar with the decisions made by the Board of Directors of Banco de la República regarding the monetary policy interest rate (MPR), which experiences periods of increase and decrease, always aiming to keep inflation around its 3.0% target. This…
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As part of its Strategic Plan for 2022-2025 and considering the existence of a robust regulation for credit institutions’ liquidity risk, Banco de la República (the Central Bank of Colombia, BANREP) reduced the reserve requirement for deposits to contribute to the process of financial deepening…
- 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 in June remained stable at 7.2%, in line with expectations.
- 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…
