Inflation remains at 3%.

Inflation remains at 3% for 2022 by the Banco de la Republica In a press release, the entity stated that inflation, globally, has increased and will end 2021 at a level above target in the vast majority of countries, including Colombia. It was communicated that the entity stated that inflation, globally, has increased and will end 2021 at a level above target in the vast majority of countries, including Colombia. That has as a result of multiple unanticipated shocks. In Colombia these shocks include a much higher than anticipated increase in aggregate demand and, on the other hand, the same difficulty has affected globally the ability of supply to respond harmoniously. We know that supply factors include the increase in prices of key inputs such as energy, and the sharp increase in the price of international transportation. By their nature, these difficulties are transitory and should begin to fade, facilitating the convergence of inflation towards the target. Despite the multiplicity of factors that have pushed inflation up in the short term, medium and long-term inflation expectations remain close to the 3% target. Within the framework of the strategy, the Board of Directors of Banco de la República will continue to evaluate at each of its meetings the supply and demand factors that explain the behavior of inflation.Source: Banco de la Republica & actualícese