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  • Services inflation and labour-cost indexation are driving higher inflation in Colombia.
  • Food and weather shocks add pressure, but excess demand increasingly dominates the outlook.
  • BanRep likely will continue to hike, as persistent inflation will require more action ahead.

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Keywords for: 12 May 2026 LatAm Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence