Colombia's Inflation Rates Take an Unexpected Turn, Sparking Hope for Faster Rate Cuts

In an encouraging development for Colombia's economy, the country has reported a negative inflation rate for the month of October 2023. This unexpected decline in monthly inflation bolsters the arguments for more aggressive interest rate cuts by the central bank. Recent data disclosed by the National Administrative Department of Statistics (DANE) revealed that Colombia's Consumer Price Index (CPI) registered a monthly decrease of 0.19%, marking the first negative reading since May 2020.

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