Publications

Inflation in Argentina was 1.9% MoM in September (33.4% YoY), accelerating with respect to August due to food prices. Core inflation fell to 1.7% MoM, a positive signal for the disinflation process, which remains stickier than expected.

Annual inflation resumed its upward trend in August and stood at 6.24%, 21 bps above July and 114 bps above the level observed at the end of last year.

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.

Globally, rice production is concentrated in Asia. In Colombia, the rice value chain accounts for 0.3% of value added, generates 1.1% of agricultural employment, and includes around 13,000 producers. High inventory accumulation represents a challenge for the sector. In 2026, lower planted areas and production are expected.

Inflation is falling and over the coming months various factors are expected to place it around, or below, 2%. Nonetheless, pressure from higher labor costs and geopolitical uncertainty could make for a bumpy ride.

At the height of the storm, we are seeing the world slowing down as inflation remains high, partly due to high commodity prices... a relentless bidding war between supply and demand from which neither will benefit.

La inflación anual al consumidor ha alcanzado su nivel más alto en los últimos 22 años. Esperamos cerrar este año en 9,2 % con una moderación para 2023 y que se consolidará en 2024, explicada por dos factores principales: el efecto base y la moderación de la demanda y de las presiones de costos.