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

Peru | BCRP Holds Rate at 4.25%: Room for Maneuver Narrows

May 15, 2026

The BCRP held its rate at 4.25% for the eighth straight month, in line with market expectations. Both headline (4.0%) and core (4.4%) inflation remain above the target range, and the communiqué now points to a longer timeline for convergence. We maintain our stable-rate forecast with an upward bias.

Argentina | April’s print marked the first deceleration in headline inflation in 11 months

May 15, 2026

April's CPI posted a 2.6% m/m increase (32.4% y/y, with a 12.3% YTD print for 2026), representing the most significant disinflationary milestone since December 2025. The monthly print was in line with consensus, matching market expectations.

Spain | Inflation moderated in April, but will rise again in May

May 14, 2026

Headline inflation slowed to 3.2% year-on-year, driven primarily by energy prices and, to a lesser extent, services. Meanwhile, core inflation moderated to 2.8%. However, BBVA Research estimates that headline inflation could rise to 3.4% or 3.5% in May.

Colombia | Automotive Outlook. May 2026

May 12, 2026

The Colombian automotive sector experienced a strong recovery in 2025 and has further accelerated its momentum in 2026. Growth has been driven by improved household consumption, the rise of utility vehicles, and the advancement of hybrid and electric technologies.

Colombia | Food and regulated items drove the increase in inflation in April

May 11, 2026

Inflation continued its upward trend in April, reaching 5.68% YoY, driven by food and regulated items. We expect inflation to continue increasing to 6.5% by year-end, due to climate-related shocks, the minimum wage increase, strong domestic demand, and other risks.

Peru | Annual inflation exceeds 4% despite monthly moderation

May 4, 2026

Lima's CPI rose 0.52% m/m in April, above the Bloomberg consensus (0.20%) but moderating from March's 2.38%. Annual inflation reached 4.01%, exceeding 4% for the first time since October 2023, driven by the persistent pass-through of the energy shock to transport costs.

Spain | Inflation picked up sharply in March and is set to rise further in April

April 15, 2026

Headline inflation in Spain accelerated to 3.4% YoY in March, driven by energy and, to a lesser extent, by services and industrial goods. In fact, core inflation rose unexpectedly to 2.9%. BBVA Research estimates that headline inflation could rise to 3.6% or 3.7% in April.

Argentina | Monthly inflation rate rose to 3.4% in March, the highest level in a year.

April 14, 2026

March inflation reached 3.4% m/m (32.6% y/y, with a year-to-date cumulative total of 9.4% for 2026), exceeding market expectations (REM-BCRA: 3.0% m/m) for the sixth consecutive month.

Colombia | Services inflation shows that minimum wage pressures remain in place

April 10, 2026

Inflation in March stood at 5.56% year-on-year, driven by the rebound in food prices due to the rainy season and by persistent pressures in services associated with the minimum wage. Inflation is expected to close the year at 6.5%, amid these pressures and additional climate and geopolitical risks.

Peru | BCRP maintains rate despite inflation outside the target range

April 10, 2026

The Central Reserve Bank of Peru maintained the interest rate at 4.25%, in line with expectations. Despite the inflationary rebound in March caused by supply shocks, the institution projects that inflation will return to the target range by the end of this year amid positive growth prospects.

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