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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…

Headline inflation in December stood at 5.1%, slightly lower than the 5.2% figure for year-end 2024. Core inflation - which excludes food and regulated items - rose from 4.85% to 5.02% between November and December, and it was also at a level close to that recorded in December 2024 (5.15%). These…

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…

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…

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…

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…

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…

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…

Annual consumer price inflation decreased in May for the second consecutive month to 12.4%, fronted by a reduction in the annual food price inflation rate from 27.8% in December 2022 to 15.7% in May 2023. In contrast, increases were observed in the inflation of regulated items resulting from…

In its policy discussion, the Board considered the following elements:

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.…

In the ninth episode, the current director of the Consejo Privado de Competitividad (Private Competitiveness Council) discusses Colombia’s challenges in competitiveness and productivity and her history at Banco de la República (the Central Bank of Colombia, Banrep).

Recent months have seen a much larger influx of funds into the Colombian stock market. For example, pension fund mangers (PFM) added Col$5.84 trillion (t) to their stock market investments between 2002 and 2006 (Financial Market Superintendent, 2007), and foreign portfolio investments (short and…

Typically, central banks use a variety of individual models (or a combination of models) when forecasting inflation rates. Most of these require excessive amounts of data, time, and computational power; all of which are scarce when monetary authorities meet to decide over policy interventions. In…

Typically, when forecasting inflation rates, there are a variety of individual models and a combination of several of these models. We implement a Bayesian shrinkage combination methodology to include information that is not captured by the individual models using expert forecasts as prior…

An application of Bayesian Model Averaging, BMA, is implemented to construct combined forecasts for the colombian inflation for the short and medium run. A model selection algorithm is applied over a set of linear models with a large dataset of potencial predictors using marginal as well as…

Bayesian Model Estimation and Selection for the Colombian Exchange Rate Bayesian Model Estimation and Selection for the Colombian Exchange Rate Norberto Rodríguez Niño  */

The main purposes of the first Report that the de Board of Directors of Banco de la República (BDBR) submits to Congress at the beginning of its regular meetings each year are: to examine the performance of the country's economy during the immediately preceding year; to explain the actions for…

This quarterly publication analyzes the evolution of key economic variables and indicators in seven regions of the country.:

This quarterly publication analyzes the evolution of the key economic variables and indicators in seven regions of the country:

Asset prices have recently become a common topic in economic debate. Nevertheless, much time has been spent in determining if they effectively exhibit a bubble component, and not in examining whether asset prices affectively contain relevant information concerning future market developments. This…

Asset price bubbles are amongst the most talked-about yet misunderstood topics in economics. Theoretical researchers debate between rational, nonrational or even non-existent bubbles, while empiricists tackle the issue with state-of-the-art econometric tools yielding mixed results.

Bibiana Taboada is an economist from Universidad de los Andes and holds a Master in Economics from the same institution. She also earned a Master in Public Administration in International Development from the Harvard Kennedy School. Since February 2021, she has served as a member of the Board of…

The President, Iván Duque Márquez, officially invested the new members of the Board of Directors of Banco de la República, Ms. Bibiana Taboada Arango and Mr. Mauricio Villamizar Villegas, at a ceremony held at Casa de Nariño. These prominent economists will serve on the Central Bank’s Board of…

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