The main forecasts indicate that inflation in Colombia continued to fall with a cut-off to the month of May 2024. Analysts explain that the country maintains a price correction that should be sustained until the end of the year.
However, they warn that there are still a series of risk scenarios that could cause the price level to fall at a slower rate.
According to the most recent forecasts, inflation in Colombiain its annual variation, it would not have moved significantly and would still be slightly above 7%.
This was due to the fact that the price of some foods continued to cool, although it did not do so at the expected rates.
That is to say, there have been a series of factors that materialized and led the country to experience a new price increase for some essential foods in the basic basket.
The above, according to the same Government, had been foreseen based on the effect of the effects of the El Niño Phenomenon, which were going to materialize more towards the month of May.
The bets for inflation in Colombia
Additionally, according to analysts’ forecasts, inflation in Colombia continues closely the increases that could have been seen in segments such as energy.
The adjustments to the price of fuel will continue to have effects on the next data released by DANE and also waiting for what happens with the value of the ACPM.
The latter, it is worth keeping in mind, means that other segments of the economy may feel some new cost increases, as the segment may see. of food transportation, on which other strategies are proposed.
Ricardo Bonilla, Minister of Finance of Colombia, assured that a series of measures will be implemented in the country to maintain a differentiated price from the ACPM and that the value of food is not impacted.
Finally, the other point that would explain the increase in inflation in Colombia focuses in which several adjustments continue to occur in the price of rentals in the country.
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The latter leads to Colombia still seeing an increase in prices and a new loss in the purchasing power of workers in Colombia.
The latter accompanied by the measures that will be taken for price adjustments on some of the energy services in Colombia, also due to the El Niño Phenomenon.
Recommended: Increase interest rate forecast for the end of this year
It is expected that, at the end of the year, inflation in Colombia will close very close to 5.5%. and only until next year will it return to the 3% goal.
