Cost of living has been falling for 9 consecutive months, reaching 8.35% year-on-year this January. But experts are still cautious and far from claiming victory in the long road towards the objective of reaching 3% set by the central bank.

The recipe to cool an overheated economy like the Colombian one after the pandemic does not offer many more alternatives. Except for the extreme cases of Argentina (211.4%) and Venezuela (193%), Colombia is the only large Latin American economy with the accumulated rate above 5%.