Colombia’s annual inflation rate fell to 5.81% in September, the lowest level in almost three years, with core inflation slowing to 6.55%. Last month, the central bank’s board voted 4-3 to reduce the benchmark interest rate by 50 bps to 10.25%. Policymakers remain divided on further rate cuts, citing risks associated with price indexation from rents and rigid service inflation as potential inflationary pressures.