BOGOTA (Reuters) – The technical team of Colombia’s central bank revised its inflation outlook for the year to 5.7, from a previous 5.5%, it said in a quarterly report published on Friday.
The new forecast is still above the specific long-term inflation goal established by the central bank, of 3%.
For 2025, the technical team expects inflation of close to 3%. The team’s considerations are taken into account by the bank’s board of directors for its monetary policy decisions.
“In the remainder of 2024 and towards 2025, levels of economic activity could continue to recover, in an environment of external financing conditions that gradually become less tight and a less restrictive monetary policy,” the report said.
Colombia’s 12-month inflation through the end of June was 7.18%.
(Reporting by Nelson Bocanegra; Writing by Oliver Griffin and David Gregorio)
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