The study looked at how changes in commodity prices affect inflation in Colombia. They used a model to see how food and energy price shocks impact inflation. They found that food prices have a small effect on inflation, but this effect disappears after a certain period. Energy prices, like oil, don't have much impact on inflation. This suggests that Colombia's monetary policy has handled commodity price shocks well. Inflation in Colombia is mainly influenced by people's expectations about future prices, and these expectations are based on information about commodity prices.