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April 13, 2024
March CPI rose 11.0% m/m and inflation marked the third consecutive monthly deceleration. The exchange rate anchor, the calm of the parallel exchange rates, the fiscal and monetary astringency and the drop in the level of activity are the main factors that explain this result.
In March, monthly inflation was 0.70% and annual inflation was 7.4%, a reduction of around 37 bps compared to February. The result was slightly above market analysts' expectations, who according to the Banco de la República's survey expected a monthly variation of 0.64%.
The consumer price index increased 1.1% MoM in March. The result for the month is explained by seasonal and supply factors. The year-on-year rate was 3.0% (3.3% in February) at the upper limit of the Central Bank's target range.
Economic activity will rebound this year as the negative shocks that affected it in 2023 revert and the environment for private sector spending improves. Output is expected to grow 2,7%, higher than our three-months-ago forecast (2,0%), as weat…
In February, annual inflation continued to decrease, registering an annual variation of 7.7% and a monthly variation of 1.09%. The result was above the expectations of market analysts, who expected a monthly variation of 0.96%.
The consumer price index increased 0.56% MoM in February. The result for the month is mainly explained by the increase in the prices of some foods, particularly poultry, affected by high temperatures in February, and the readjustment in some administered rates, such as in the case of water.
In January, monthly inflation was 0.92% and annual inflation was 8.35%, very close to the expectations of market analysts, who according to the survey of Banco de la República expected 0.93% in the monthly variation.
The consumer price index increased 0.02% m/m in January 2024 and the interannual inflation rate stood at 3.02% (already very close to the upper limit of the target range).
The downward trend in core inflation persisted in December, helped by a decline in core goods inflation. Headline inflation increased due to base effects. Geopolitical risk in Middle East East worsened, in turn pushing up freight costs. Our sup…
In Colombia, the indexation percentage is high and is usually tied to two main indicators: the previous year's inflation and the increase in the minimum wage for the current year. Indexation through inflation would impact 30.5% of the basket an…
In December 2023, inflation registered a monthly variation of 0.45% and an annual variation of 9.28%. This result was below the expectations of market analysts, who according to the survey conducted by Banco de la República expected a monthly variation of 0.64% on average.
The consumer price index increased 0.41% MoM in December. The result for the month is explained by the seasonal increase in transportation prices and the prices of some foodstuffs, particularly poultry, also increased.
