Colombia 12-month inflation forecast to slow in October: Reuters poll
© Reuters. FILE PHOTO: A man buys vegetables and fruits in Cali, Colombia January 4, 2018. Picture taken January 4, 2018. REUTERS/Jaime SaldarriagaBOGOTA - Colombia's inflation could have slowed in October but forecasts for consumer price growth through the year end rose due to uncertainty caused by the El Nino weather phenomenon, a Reuters poll found on Monday.
"We expect moderation in food and housing, and as has become the norm, there could be pressure from gasoline in transport," said David Cubides, chief economist of the Alianza brokerage, who forecast inflation of 0.31% in October.
Persistent inflationary pressure has driven the central bank to hike its benchmark interest rate by 1,150 basis points, taking it to 13.25% from September 2021 to April this year, where board members have since held it stable.
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