Colombia has been reducing inflation steadily since the 1990s. A model was created to understand how monetary policy affects this disinflation. The model shows how inflation changes in response to different factors like trade terms and risk premiums, depending on how people expect prices to change. By shifting to a new inflation target, the economy can improve, but there may be some short-term costs. Overall, reducing inflation brings benefits, and predictions show that inflation in Colombia will continue to decrease.