La inflación en Colombia y los posibles escenarios futuros
| Autor | Luis Eudoro Vallejo Zamudio |
| Cargo | Universidad Pedagógica y Tecnológica de Colombia, UPTC |
| Páginas | 7-13 |
Ination in Colombia and
Possible Future Scenarios
Ination is the continuous and sustained increa se in the general level of prices,
and its control is one of the fund amental objectives of economic policy in any
country, given the eects it has on the ec onomy and society. In the rst place,
it aects people’s purchasing power, to the extent that their purchasing power
is reduced, that is, they will have less income to cover their expenses. In this way,
ination acts as a regressive tax, to the extent in wh ich it aects t he income of
the population, especially the poorest, who se e how these resources are reduced.
Second, it generates a forced redistribution of income because the producers pass on
the price increase to the nal consumer; t his result has mor e notorious reperc ussions
on employees, especially on those who have low levels of remuneration. T hird, it
inevitably aects the competitiveness of a count ry, since if ination is h igher than
that of its tradi ng partner s, the countr y’s goods and services that have high pr ices
will not be attractive in inte rnational markets.
Inflat ion, which was at low levels i n recent years, inten sifies when economies
reactivate, after par tially mitigating the eects of the pandem ic caused by COVID-
19. During this per iod, it was nor mal for there to be a h igher demand for goods,
but the supply chain was interr upted, and this generated shortages, which led to
prices increa sing; later, in February 2022, the wa r in U kraine fueled the inf la-
tionary process.
In all countr ies, ination levels are out of control. In the United States, Colombia’s
rst tra ding part ner, it reached a level of 8.3% per year until April, a gure that
had not been recorded for 40 years. In the Eurozone it has reached 75.%, and it is
possible that it will increase even more, g iven the eventual shortage of oil and gas,
which makes energy more expensive and impa cts the general level of prices. In the
case of some Latin American countries, t he data is also disturbing, if one takes into
account that the gu res for annual in ation in May are Brazi l 12.1%, Chile 10.5%,
Peru 9.47% and Mexico 7.7%.
This substantial increase in the pr ice level also aected Colombia. The annual varia-
tion of accumulated ination up to April was 9.23%, the highest level recorded in
Editorial
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