Colombia registered a inflation of 0.07% in November, a figure lower than expected by the market, due to a drop in food prices and the recreation and culture sector, reported on Friday the National Department of Statistics (DANE).
The variation of the penultimate month was compared with an increase of 0.27% in November 2024 and 0.18% last October. According to the median of a Reuters poll, the market expected inflation of 0.20% for November.
The monthly variation was explained by a increase in the health prices with 0.71%, the alcoholic beverages and tobacco with 0.44%; goods and services diverse with 0.39%; the services of restaurants and hotels with 0.38%; the information sector and communication with 0.35% and transportation with 0.29%, DANE specified in a statement. Other increases were recorded in the accommodation category and public services with 0.28% and goods and services for the home with 0.19%.
The sector of education did not report variation; while the prices of the clothing and footwear they contracted 0.02%; those in recreation and culture fell 0.48% and those in the food sector decreased 0.72%.
Between January and November, the South American country accumulated inflation of 4.82%, compared to 4.72% in the same period of 2024.
For its part, in the last 12 months until November, consumer prices rose 5.30%, above the specific goal of 3% of the Central Bank. In November, the Central Bank’s technical team raised its inflation forecast for this year to 5.1% from a previous 4.7%, meaning that the country would accumulate five consecutive years of failing to meet the set goal. For 2026 the organization adjusted its projection to 3.6% compared to a previous one of 3.2%. The delay in the return of inflation to the target has caused the emergence of a change in the expectations of analysts and officials, who are now inclined to believe that the Central Bank would have to begin to raise its interest rate reference sooner rather than later.
The monetary authority It has kept its reference interest rate stable at 9.25% since last April, when it reduced it by 25 basis points.
Earlier on Friday, Central Bank co-director Bibiana Taboada said more may have to be done on monetary policy to moderate the dynamism of domestic demand that keeps inflation above the target.
