Colombia's inflation is projected at 4.9% for 2026, missing the Banco de la República's target range for the sixth consecutive year. A Corficolombiana report estimates it will close 2025 at 5.2%, roughly the same as last year, signaling a stall in disinflation. The goal of nearing 3% is now delayed until 2027.
Amid talks on minimum wage hikes, Colombia's inflation remains a key concern. Expert projections show the consumer price index (CPI) trending downward in 2025, but not as sharply as the Banco de la República hoped. Corficolombiana's economic research report states the year will end at 5.2% inflation, nearly matching 2024's figure and indicating gradual but inadequate disinflation to enter the target range below 4%.
The rise stems mainly from higher costs of goods, services, and food, offset somewhat by cuts in electricity and gas rates. For 2026, a slight drop to 4.9% is expected, though risks include a two-digit minimum wage increase and robust domestic demand fueled by public spending, potentially pushing prices up.
The central bank aimed to bring inflation near 3% by 2026, but current estimates point to 2027 instead. This extends the deviation from the target for a sixth straight year, underscoring ongoing challenges in monetary policy.
