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Potatoes are up 78% but add less to inflation than rent, up 5%. That math explains why Colombia's inflation is so hard to bring down.

Bancolombia sees the peso between 3,190 and 3,390 COP in October, as a 12.25% policy rate and IMF talks could help offset dollar strength.

Futures price Fed rates at 4.50%–4.75% by mid-2027, which would cut another 75 basis points from the carry behind Colombia's strong peso.

Villar calls it a paradox: a deficit that should sink a currency lifted the peso, and low-skilled wages rose more than 50% in dollars.

Occupancy, RevPAR and foreign arrivals all slid in July even as domestic travelers picked up the slack.

Colombia’s incoming administration faces a currency challenge as the peso’s strength pressures exporters, tourism and investment.

The peso sits near $3,200COP, but Bancolombia’s model pegs fair value at $3,720 COP — and sees it drifting back by 2027.

A stronger dollar and a 21% oil slump battered peers, yet Colombia's currency broke ranks. Bancolombia explains why - and where it goes next.

Service-oriented and labor-intensive businesses may face higher operating costs due to the 23% minimum wage hike and its immediate impact on indexed service categories

“It’s as if all the stars lined up for us and what you saw were the results as of 2022, where we were able to grow 44%”