Headline inflation in Colombia fell to 5.1% YoY in December from 5.3% in November. The CPI ex-food and regulated items rose to 5.0% from 4.9% (see our chart pack for more details). Given the high degree of indexation and the high minimum wage hike, there is likely to remain a lot of pressure on prices in the first quarter of 2026, tracking the impact will be critical for Market participants and policymakers.
For more, including market takeaways, please see full note.