Inflation in Colombia closed 2022 at historical levels of 13.12%, a rise of 7.5 percentage points (pps) compared to what was reported in 2021 (5.62%), according to Dane. Said figure was well above what was expected by the market and had not been seen since March 1999 (13.51%).
It is worth mentioning that the market expected on average that inflation would close 2022 at 12.62% per year, while the projected monthly rate was 0.82% on average, according to a Citi survey that consulted 25 market experts.
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