Colombia’s annual inflation rate climbed to 5.51% in October 2025 from 5.18% in September, marking the highest level in 13 months and reinforcing the central bank’s decision to keep interest rates unchanged. Inflation remained well above the central bank's 3% target, putting the country on course to miss its goal for a fifth consecutive year. Price gains were driven mainly by culture & leisure and health categories. The central bank held its policy rate at 9.25% in October, maintaining that level all year except for one cut in April, as officials weighed persistent inflation risks against resilient economic data. Some policymakers even suggested rate hikes could be warranted if inflation pressures intensify. Month-over-month, consumer prices increased 0.18%, easing from a 0.32% rise in September but exceeding forecasts of 0.13%.