Colombia’s central bank has revised its 2024 inflation forecast upwards to 5.7% from 5.5%, citing potential accelerations in food inflation and regulated cost spikes. The bank anticipates core inflation to settle at 5% by year-end, influenced by rent pressures. Despite the challenging inflation outlook, the bank has lifted its 2024 GDP growth forecast to 1.8% from 1.4%, driven by robust external demand.