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Economists Increase 2022 CPI Estimate to 11.88% Vs. 11.33%

COLOMBIA

Late Friday, the central bank published the monthly survey of economists:

  • Consensus sees the next rate move to be a 100 bps increase in October.
  • 12-month inflation raised to 7.27% from 7.04%, 24-month inflation held at 4.50%
  • 2022 year-end inflation raised to 11.88% from 11.33%, 2023 inflation up to 6.74% from 6.30%
  • 2022 year-end exchange rate raised to 4445 from 4300 COP/USD
  • 2023 year-end exchange rate raised to 4300 from 4100 COP/USD

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