Published on Friday, November 3, 2023

Colombia | An inconvenient "El niño"

The El Niño phenomenon, which is forecast for the end of the year, will pressure inflation. However, the effects on the economy will depend on the intensity of the event: a weak El Niño will have little impact, while a strong one will have an impact on inflation.

Key points

  • Key points:
  • There are three elements of concern in Colombia in the face of the El Niño phenomenon: 1) The current high level of inflation, 2) The effects on food inflation and 3) The energy issue.
  • It is necessary to prepare for the El Niño phenomenon, following the recommendations of the entities in charge and seeking guidelines to avoid a crisis in the energy sector.

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