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GDP grew by 2,7 % year-on-year in May, exceeding both the market consensus (2,1 %) and April’s print (1,4 %). The non-primary component increased by 3,2 %, while the primary one once again declined, mining and fishing in particular.

In the second week of September, Bre-B, the new low-value payment system developed by the Central Bank of Colombia (Banco de la República), will become operational. Its value proposition includes the ability to make payments and transfers that are free, secure, and easy between individuals and businesses.

Colombia's annual inflation for June 2025 stood at 4.8%, with a monthly variation of 0.10%, lower than the 0.19% expected by analysts. This marks the first time it has been below 5.0% since October 2021. The moderation was explained by the food and regulated items baskets.

The Big Data Private Consumption Index showed a marked slowdown in its year-over-year growth in June (3.0% compared to 15.6% in May).

The CPI rose by 0,13% m/m in June, broadly in line with analysts’ consensus. As a result, year-on-year inflation remained at 1,7%, comfortably within the Central Bank’s target range. Core inflation, which excludes food and energy, on the other hand, declined and also stood at 1,7%.

In May 2025, remittances to Mexico fell 4.6 % compared to the same month of the last year, to 5,360 million dollars. In contrast, remittances to Guatemala (2,281 million, +15.2 %), Honduras (1,055 million, +19.1 %), and El Salvador (899 million, +17.7 %) reached record highs.

The Bank of the Republic maintained the policy rate at 9.25% in June, with a divided decision. While inflation showed a marginal reduction and growth continues a gradual recovery, they emphasized the larger estimated fiscal deficit and its effect on the economy and the Bank's interest rate profile.

Oil prices have experienced high volatility this year. Lower global demand and increased supply from OPEC+ have driven a bearish trend, which was recently interrupted by tensions between Israel and Iran. The outlook remains uncertain, especially concerning a potential blockade of the Strait of Hormuz.