After the result recorded for November, inflation for the year could close at 9.52%

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Inflation in November fell for the eighth consecutive month and stood at 10.15% of its annual change, as reported by the National Administrative Department of Statistics, Denmark.

Meanwhile, the monthly figure stood at 0.47% and for the current year at 8.78%. Analysts estimate that for that month the CPI will be around 10.20%, which leaves the result given below the expectations of economists.

The result This is the basis of the discussions that took place in the Ministry of Labor for the agreement on the increase of the minimum wage in 2024. The outlook for the CPI at the end of 2023 will also be important, which, according to the latest Citibank survey, is at 9.52% on average.

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Regarding the salary discussion, Andrés Langebaek, director of economic studies at Grupo Bolívar, said that “given that MinTrabajo established the November data as a basis for negotiating the increase of the minimum wage, we believe that it will be able to exert upward pressure as data. exceeds average analysts’ expectations.”

The cities with the biggest price changes last year are Santa Marta (11.56%), Barranquilla (11.43%), Montería (11.39%), Cúcuta (10.98%), and Valledupar (10.97%). In contrast, the cities that registered the least annual change for the CPI were Villavicencio (8.01%), Ibagué (8.93%), and other urban areas (9.06%).

If the annual change in the CPI is reviewed by the expenditure division, those with a higher annual change than average are transportation (16.54%), restaurants and hotels (14.35%), alcoholic beverages and tobacco (12.78%), education (11.41%), and various goods and services (10.86%).

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Juan David Ballén, Head of Investment Strategy at Casa de Bolsa, emphasized that on this occasion, “the increase in fuel prices, the tax on ultra-processed foods, and the increase in energy prices will slow down the decline in inflation.” Tax is the new thing these days.

However, the director of the Dane, Piedad Urdinola, explained, through an example of soft drinks and malts, that an increase is seen because the behavior decreases and increases and remains at 13.36%.

“It is not necessary for all meals; it is impossible for us to do all the exact discrimination for all these foods that are currently regulated,” explained the director of the entity.

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