Colombia Faces Persistent Inflation Hurdles

Analysts forecast that Colombia's inflation likely rose in July due to increased food and housing costs. A recent Reuters poll revealed these insights on Friday, highlighting a dim projection for the country's economic landscape.

The survey indicated an expected July inflation rate of 0.19%, a slight drop from July 2024's 0.20% yet markedly above June's 0.10%. Predictions varied, with estimates ranging from 0.07% to 0.34%.

Despite this projection, the 12-month cumulative inflation remains at 4.80%, higher than the central bank's 3% target. This trend ensures that the Colombian central bank will maintain its 9.25% interest rate as inflationary concerns persist.

(With inputs from agencies.)