Publications

Here are all of our publications listed chronologically. You can also find the publications relating to single geography under “Publications by geography” or narrow down your search using the “Advanced filter”.

Latest publications on CPI

Colombia | August inflation at 5.1%, second consecutive increase

8 September 2025

Monthly inflation in August was 0.19%, in line with analysts' expectations and BBVA Research. This brings annual inflation to 5.1%, an increase of 20 basis points compared to July, and marks two consecutive months of inflation increases.

Peru | Inflation approaches the lower limit of the target range

1 September 2025

The Lima Consumer Price Index (CPI) contracted 0.29% in August 2025, surprising the consensus of analysts. Year-on-year inflation fell to 1.1%, close to the lower limit of the Central Bank's target range. Inflation excluding food and energy rose slightly to 1.8%.

Argentina | July inflation was 1.9% m/m, the third consecutive month below 2%

14 August 2025

Inflation averaged 1.7% m/m in the last quarter, the lowest level in eight years (22% annualized). The monthly figure is in line with expectations (BBVA: 1.8%, REM-BCRA: 1.8%), so we maintain our projection of 28% y/y for 2025.

Peru | Inflation in July remains low, with a seasonal rise due to national holidays

1 August 2025

Consumer Price Index (CPI) increased by 0.23% in July 2025, in line with expectations. 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 also stood at 1.7%.

Argentina | June inflation recorded 1.6% m/m, another downside surprise

15 July 2025

June's inflation rate was 1.6% m/m (39.4% y/y), marking the second consecutive month below the 2% m/m level. This scenario indicates a more rapid disinflation process than previously anticipated, leading us to revise our December 2025 inflation forecast downward to 28% y/y from our prior projection of 30% y/y.

Colombia | Inflation moderates in June, standing at 4.8%

8 July 2025

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.

Argentina | Inflation reduction consolidates: It was 1.5% m/m in May, lowest in five years

13 June 2025

May’s inflation was 1.5% m/m (43.5% y/y), well below expectations (CB-consensus: 2.1% m/m, BBVAe: 1.9% m/m). Core inflation fell to 2.2% m/m in May.

Peru | No changes: inflationary pressures remain subdued

2 June 2025

In May 2025, the CPI fell by 0.06%, mainly due to lower food prices, particularly poultry products, following previous increases. Electricity rates and fuel prices also declined, reflecting lower international oil prices.

Argentina | Inflation in April was 2.8% m/m, lower than expected

14 May 2025

April national inflation was 2.8% m/m (47.3% y/y), placing it below expectations (REM-BCRA: 3.2% m/m, BBVA Research: 3.4%) as a result of a more virtuous exchange rate dynamics -post easing of restrictions- than initially expected.

Colombia | Annual inflation surprised on the upside in April, reaching 5.2%

9 May 2025

Annual inflation in April surprises on the upside (5.2%), driven by regulated items and goods. Core inflation (excluding food) also increases. Doubts persist regarding the speed of future moderation. This result may lead to upward revisions of forecasts and uncertainty about the future monetary policy stance.

Peru | Year-on-year inflation continues to decline in March, despite rising food prices

1 April 2025

The CPI increased 0.81% month-over-month in March, driven by weather anomalies and the adjustment in student pensions. In contrast, the decrease in transportation prices and the return to normal fare prices after the Carnival holidays helped moderate inflation.

Argentina Economic Outlook. March 2025

25 March 2025

In 2025, GDP is expected to grow by 5.5%, driven by consumption and investment, within a context of disinflationary consolidation and fiscal-monetary discipline. However, two key challenges remain: maintaining fiscal austerity during an election year and making significant progress in normalizing the foreign exchange market

Individual publications may only be downloaded for technical reasons to allow a more complete, rigorous and individual reading of the publications. In this regard, only a brief summary, mention or reference to the publications is permitted and only when all the following conditions are met: (i) it is not for commercial purposes (not even indirect commercial use, e.g. to attract advertising to your website); (ii) a statement is included that BBVA Research is the author and owner; and (iii) a precise and complete link to the URL where the publication is available is included on this website. +info