Colombia’s central bank revised its end-2024 inflation forecast to 5.9% from 4.04%, reflecting adjustments for anticipated moderate impacts of the El Nino phenomenon on food and energy prices, along with new taxes. Despite ending 2023 with 9.28% inflation, the bank projects a decrease to 2.76% by the end of 2025. Economic growth forecasts for 2024 remain at 0.8%, improving to 3.5% in 2025, with a slight upward adjustment for 2023 growth to 1.2% from 0.9%.