The cost of living in Colombia has continued to rise in recent months in which inflation has broken, month after month, new records. Prices were expected to start declining or easing in late 2022, but that would mostly be achieved in early 2023.
According to a report by Corficolombiana's economic research team, Colombian inflation would remain higher than expected in 2023, among other reasons, due to the tax reform and the increase in the minimum wage next year.
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