At the end of June, the monitoring of Trading Economics explained that for every 10 countries in the world, between seven and eight showed reports of rising inflation. In fact, that is why he highlighted that By the end of the first semester, 85% of the world’s central banks had adopted the measure of adjusting their interest rates to face the movement of the Consumer Price Index (CPI). global.
With the update of the inflation report in Colombia, it can be seen that again the cost of living of people does not reach a ceiling, that is, the CPI reached 12.5%, it came from 12.2% and that is when it is seen that instead of pausing its growth, it followed the price ladder. Even the Minister of Finance, José Antonio Ocampo, acknowledged that he expected inflationary pressure to peak in October, something that did not happen and continued to advance. Now, the economic portfolio and the Banco de la República have moved their projections and see that inflation ceiling in January 2023.
Precisely in the local case, Colombia has been registering constant increases in the CPI since May, and at the end of November it is once again part of the countries that continue to increase the level of inflation. In what has to do with Latin America, of the 17 main economies, eight showed a bearish behavior (see chart).
“It may be an early reading to do, since the regional inflation measurement will arrive by the end of January 2023, but for the moment, it is seen that it is no longer all the countries that grow at the CPI level, but only half. And in fact several of the ones that have improved are key economies,” said Claman Cheelsen, Latin America market researcher at Research IP.
Precisely, while Colombia rose in inflation, in key economies such as Mexico there it went from CPI at 8.70% to 8.41%, or Chile from 13.70% to 12.80%. Costa Rico was the one that advanced the most, since between September and October it fell 13.6 points (jumping from CPI to 10.4% to 8.99%).