*Colombia’s national statistics department (Dane) has released the consumer price index for October showing monthly deflation of 0.13%, bringing the annual rate to 5.41%. This is down from 0.24% monthly inflation in September, when annual inflation was 5.81%. Dane highlights that the October figure is the first monthly deflation registered since June 2021 (-0.05%). It follows the recent decision by Colombia’s central bank (Banrep) to cut its benchmark interest rate by 50 basis points to 9.75% – a decision that it attributed to factors including the fall in inflation.
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