During the second quarter, headline inflation remained stable, while core inflation continued to fall. Inflation would continue its measured downward path to meet its 3.0% target by the end of 2025.
Macroeconomic Modeling Department
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Annual inflation has been decreasing for a year and is projected to continue, with inflation at 5.5% in December and the 3% target to be reached in 2025.
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Inflation continues to decline but remains well above 3%. It is anticipated to decrease significantly in 2024 and draw closer to the established target in the first half of 2025.
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Inflation has decreased since April, and it is projected to continue to reduce significantly throughout 2024 as it converges toward 3%.
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As foreseen in the April Report, inflation began to fall in the second quarter of 2023. It is expected to continue declining in the following quarters and return near the 3% target by the end of 2024.
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Inflation would peak in March and start to gradually decline as of the second quarter of 2023, bringing inflation back to the 3% target over the next two years.
- Publicación |1. Macroeconomic Summary
In December, headline inflation (13.1%) and the average of the core inflation measures (10.3%) continued to trend upward, posting higher rates than those estimated by the Central Bank's technical staff and surpassing the market average. Inflation expectations…
- Publicación |1.1 Macroeconomic summary
In September, headline inflation (11.4% annually) and the average of core inflation indicators (8.6% annually) continued on a rising trend, and higher increases than expected were recorded. Forecasts increased again, and inflation expectations remained above 3…
- Publicación |1. Summary 1.1. Macroeconomic summary
In the second quarter, annual inflation (9.67%), the technical staff’s projections and its expectations continued to increase, remaining above the target. International cost shocks, accentuated by Russia…
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- Publicación |1.1 Macroeconomic summary
Several factors contributed to an increase in projected inflation on the forecast horizon, keeping it above the target rate. These included inflation in December that surpassed expectations (5.62%), indexation to higher inflation rates for various baskets…
- Publicación |1.1 Macroeconomic summary
Economic activity has recovered faster than projected, and output is now expected to return to pre-pandemic levels earlier than anticipated. Economic growth projections for 2021 and 2022 have been revised upward, though significant downward bias remains.…
- Publicación |1.1 Macroeconomic summary
The Colombian economy sustained numerous shocks in the second quarter, primarily related to costs and supply. The majority of these shocks were unanticipated or proved more persistent than expected, interrupting the recovery in economic activity observed…
- Publicación |1.1 Macroeconomic summary
Economic recovery has consistently outperformed the technical staff’s expectations following a steep decline in activity in the second quarter of 2020. At the same time, total and core inflation rates have fallen and remain at low levels, suggesting that a…
- Publicación |1.1 Macroeconomic Summary [Pág. 1]
Overall inflation (1.61%) and core inflation (excluding food and regulated items) (1.11%) both declined…
- Publicación |1.1 Macroeconomic summary [Pág.
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Banco de la República (the Central Bank of Colombia) is required by the Constitution to maintain the purchasing power of Colombia’s currency in coordination with general economic policy1. In order to fulfill this mandate, the Central Bank of Colombia’s Board of Directors…
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Banco de la República (the Central Bank of Colombia) is required by the Constitution to maintain the purchasing power of Colombia’s currency in coordination with general economic policy1. In order to fulfill this mandate, the Central Bank of Colombia’s Board of Directors…
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Banco de la República (the Central Bank of Colombia) is required by the Constitution to maintain the purchasing power of Colombia’s currency in coordination with general economic policy1. In order to fulfill this mandate, the Central Bank of Colombia’s Board of Directors…
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Monetary Policy in Colombia
As per its constitutional mandate, Banco de la República must ensure that the purchasing power of the currency is maintained in coordination with the general economic policy1. In order to fulfill this mandate, the Board of Directors of…
