Colombia | Inflation Ends 4-Month Stable Streak, Settles at 5.1% in March.

Summary

In March 2025 Colombia's total inflation decreased to an annual rate of 5.1% breaking a four-month period of stability or slight increase. This moderation was primarily driven by a decline in non-food inflation, particularly due to the regulated basket. March monthly inflation was 0.52% falling below analysts' expectations.

Key points

• Key points:
• Colombia's annual inflation experienced a decrease in March 2025, reaching 5.1% after a period of stability or a slight upward trend over the preceding four months.
• The monthly inflation in March stood at 0.52%, which was lower than the average forecast of analysts surveyed by the Banco de la República (0.58%).
• The reduction in total inflation was mainly attributable to the decrease in non-food inflation, which registered an annual variation of 5.2%, a 26 basis point drop compared to February.
• The regulated goods and services basket was the primary driver behind the moderation of both total and non-food inflation, recording an annual variation of 6.3%. This represented a significant reduction of 91 basis points compared to February, influenced by the moderation in urban transportation costs.
• Core inflation, an indicator closely monitored by the Banco de la República, stood at an annual rate of 4.8% in March, showing a 6 basis point decrease from the previous month.

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