By Nelson Bocanegra
BOGOTA (Reuters) – Inflation in Colombia likely eased in March, after increasing in the first two months of the year due to higher minimum wages and gas tariffs subsidies, a Reuters poll showed on Monday.
According to the median estimates from 22 analysts surveyed, consumer prices for the third month of the year will have reached 0.58%, lower than the 0.70% in March last year and also below 1.14% in February.
Analyst estimates ranged from 0.21% to 0.69%.
If the forecast is met, annual inflation through March would reach 5.15%, still above the Central Bank’s 3% target.
Meanwhile, inflation expectations for year-end rose to 4.42%, up from 4.22% in February, marking the fifth consecutive year Colombia is expected to miss its inflation target.
For 2026, the projections rose to 3.61% from 3.50% in the previous survey.
Persistent inflationary pressures have reduced the national bank’s room for maneuver in monetary policy, which in January led to pause the cycle of interest rate cuts and keep it at 9.50%.
However, most analysts in a recent Reuters poll believed that the monetary authority will cut its benchmark rate at its meeting later on Monday.
The country’s DANE statistical agency will release its official inflation March report on April 7.
(Reporting by Nelson Bocanegra; Editing by Aida Pelaez-Fernandez)
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