Добірка наукової літератури з теми "COFFEE DAY AND BARISTA"

Abstract. Currently, the coffee shop business is one of the businesses that is mushrooming throughout Indonesia, because coffee shops are considered a gathering place that is in great demand today by all types of people. NAMA Coffee is one of the MSME-based coffee shops in Cimahi City that has survived from 2018 to the present. In the development of this increasingly diverse coffee shop business, of course, NAMA Coffee must have uniqueness and distinctiveness so that it is remembered and remembered by consumers, one way is to improve, or add to the quality of service to consumers by conducting interpersonal communication interactions carried out by NAMA Coffee baristas to consumers. The research used a qualitative method with a case study approach, interpersonal communication theory. The results of this study are the interpersonal communication of NAMA Coffee baristas to consumers by describing the interpersonal communication process of NAMA Coffee baristas to consumers, barriers to interpersonal communication of NAMA Coffee baristas to consumers when interacting, and the purpose of NAMA Coffee baristas implementing interpersonal communication to consumers in running a business in a coffee shop. Interpersonal communication interactions carried out by baristas can change the concept of "buyers" to "customers" because of the closeness and familiarity that occurs with consumers, so NAMA Coffee is expected to achieve and meet predetermined targets. Abstrak. Saat ini bisnis coffee shop merupakan salah satu bisnis yang tengah menjamur diseluruh penjuru Indonesia, karena coffee shop dinilai sebagai tempat berkumpul yang amat diminati pada zaman ini oleh semua jenis kalangan. NAMA Coffee merupakan salah satu coffee shop berbasis UMKM di Kota Cimahi yang masih bertahan dari 2018 hingga saat ini. Dalam perkembangan bisnis coffee shop yang semakin beragam ini, tentunya membuat NAMA Coffee harus memiliki keunikan dan kekhasan agar dikenang dan diingat oleh konsumen, salah satu caranya yaitu memperbaiki, maupun menambahkan kualitas pelayanan terhadap konsumen dengan melakukan interaksi komunikasi interpersonal yang dilakukan oleh barista NAMA Coffee kepada konsumen. Penelitian menggunakan metode kualitatif dengan pendekatan studi kasus, teori komunikasi interpersonal. Hasil dari penelitian ini adalah komunikasi interpersonal barista NAMA Coffee kepada konsumen dengan memaparkan proses komunikasi interpersonal barista NAMA Coffee kepada konsumen, hambatan komunikasi interpersonal barista NAMA Coffee kepada konsumen ketika berinteraksi, dan tujuan barista NAMA Coffee menerapkan komunikasi interpersonal kepada konsumen dalam menjalakan bisnis di coffee shop. Interaksi komunikasi interpersonal yang dilakukan barista dapat merubah konsep “pembeli” menjadi “pelanggan” karena adanya kedekatan dan keakraban yang terjadi dengan konsumen, dengan begitu NAMA Coffee diharapkan dapat mencapai dan memenuhi target yang telah ditentukan.

Abstract. Shifts working is work time to do something and can be categorized as three times, morning, evening and night. The productivity of a company is greatly influenced by the quality of its human resources. Work-related stress is dangerous when physical and emotional responses occur due to a mismatch between job requirements, abilities and needs of workers. Barista workers are one of the professions that are at risk of experiencing stress due to work, especially if the shift work is not properly divided. The purpose of this study was to determine the comparison of the stress value between morning shift work and afternoon shift work baristas at X Coffee Bandung. This research was by analytic observational study with cross-sectional study and Independent T-Test. Subjects were taken by total sampling technique. The samples is 20 people. Data obtained through the Depression Anxiety Stress Scale (DASS-42) questionnaire filled out by barista X Coffee Bandung. Baristas consist of 10 people who work shifts in the morning and 10 people who work in the afternoon, with 16 men and 4 women. Baristas who work in evening shift work had a higher stress value than morning shift work. It is concluded that there are differences in the stress value of morning shift and afternoon shift work for baristas at X Coffee Bandung. (p value 0.001). Keywords: Barista, Shift Work, Stress Value. Abstrak. Kerja gilir adalah waktu kerja untuk mengerjakan sesuatu dan dapat dikategorikan tiga waktu yaitu pagi, sore dan malam. Produktivitas perusahaan sangat dipengaruhi oleh kualitas sumber daya manusianya. Stres terkait pekerjaan dianggap berbahaya ketika respons fisik dan emosional terjadi akibat adanya ketidaksesuaian antara persyaratan pekerjaan, kemampuan serta kebutuhan pekerja. Pekerja barista adalah salah satu profesi yang berisiko mengalami stres akibat kerja terutama jika pembagian kerja gilir tidak benar. Tujuan penelitian ini untuk mengatahui perbandingan nilai stres antara kerja gilir sore dengan kerja gilir pagi pada barista di X Coffee Bandung. Penilitian dilakukan secara observasional analitik dengan studi cross-sectional dan Uji Independent T-Test. Subjek diambil dengan teknik total sampling. Jumlah sampel 20 orang. Data didapat melalui kuesioner Depression Anxiety Stress Scale (DASS-42) yang diisi oleh barista X Coffee Bandung. Barista terdiri dari 10 orang kerja gilir pagi dan 10 orang kerja gilir sore dengan berjenis kelamin laki laki 16 orang dan perempuan 4 orang. Barista yang bekerja pada kerja gilir sore mempunyai nilai stres lebih tinggi dibandingkan yang bekerja pada kerja gilir pagi. Jadi disimpulkan terdapat perbedaan nilai stress kerja gilir pagi dengan kerja gilir sore pada barista di X Coffee Bandung. (p value 0,001). Kata Kunci: Barista, Kerja Gilir, Nilai Stres.

This study aims to find out: (1) knowing what characteristics possessed by a professional barista and bartender, (2) knowing the obstacles faced by a barista and bartender at work, (3) knowing the efforts that must be made in improving barista and bartender skills . The method used in this research is descriptive qualitative. Data collection techniques used were observation and interviews. The subjects of this study were baristas and bartenders at the Four Points Hotel by Sheraton Bali Seminyak. Saddle, the object of this study is the characteristics of baristas and bartenders. The results showed that there are some requirements that must be possessed by a professional barista and bartender to improve the quality of service including having basic knowledge of coffee, having the ability to understand and master drinks, attitude or attitude and good communication. And there are some obstacles faced by baristas and bartenders in their work, which are different flavors of coffee, problematic espresso mechine, lack of preparation and guest complaints. Strategies used to improve the skills of a barista and bartender include training and participating in competitions related to baristas and bartenders.

Abstract. Indonesia has suitable natural conditions which are ideal for growing quality coffee. The presence of coffee shops in Indonesia is not only a place to sip a cup of coffee, but also a part of the lifestyle for urban communities. This study uses the positivism paradigm. The positivism paradigm in social research refers to the use of the scientific method to test hypotheses about social phenomena. In a positivism view, researchers can use quantitative data collection techniques and apply statistical analysis to test hypotheses. The problems that can be identified in his research are: (1) How big is the social influence of baristas and consumers on customer satisfaction of Fore Coffee Outlet Yogya Sumbersari Junction, (2) How big is the influence of barista and consumer trust on customer satisfaction Fore Coffee Outlet Yogya Sumbersari Junction, (3) How much influence does the perception of baristas and consumers have on customer satisfaction Fore Coffee Outlet Yogya Sumbersari Junction, (4) How much influence does the communication skills of the barista and consumers have on customer satisfaction Fore Coffee Outlet Yogya Sumbersari Junction. Based on the results of data research and discussion, the conclusion is that Interpersonal Communication between Baristas and Consumers has a significant influence on Consumer Satisfaction at Fore Coffee Outlet Yogya Sumbersari Junction with a contribution of influence that is equal to 41% while the remaining 59% is the large contribution of influence given by the factors other factors not examined. Abstrak Indonesia memiliki kondisi alam yang cocok dan ideal untuk menanam kopi berkualitas. Kehadiran kedai kopi di Indonesia tidak hanya menjadi tempat menyeruput secangkir kopi, tetapi juga menjadi bagian dari gaya hidup masyarakat urban. Kajian ini menggunakan paradigma positivisme. Paradigma positivisme dalam penelitian sosial mengacu pada penggunaan metode ilmiah untuk menguji hipotesis tentang fenomena sosial. Dalam pandangan positivisme, peneliti dapat menggunakan teknik pengumpulan data kuantitatif dan menerapkan analisis statistik untuk menguji hipotesis. Permasalahan yang dapat diidentifikasi dalam penelitiannya adalah: (1) Seberapa besar pengaruh sosial barista dan konsumen terhadap kepuasan pelanggan Fore Coffee Outlet Yogya Sumbersari Junction, (2) Seberapa besar pengaruh barista dan kepercayaan konsumen terhadap pelanggan kepuasan Fore Coffee Outlet Yogya Sumbersari Junction, (3) Seberapa besar pengaruh persepsi barista dan konsumen terhadap kepuasan pelanggan Fore Coffee Outlet Yogya Sumbersari Junction, (4) Seberapa besar pengaruh keterampilan komunikasi barista dan konsumen terhadap pelanggan kepuasan Fore Coffee Outlet Yogya Sumbersari Junction. Berdasarkan hasil penelitian data dan pembahasan maka diperoleh kesimpulan bahwa Komunikasi Interpersonal antara Barista dan Konsumen memiliki pengaruh yang signifikan terhadap Kepuasan Konsumen di Outlet Fore Coffee Yogya Sumbersari Junction dengan kontribusi pengaruh yaitu sebesar 41% sedangkan sisanya sebesar 59%. adalah besarnya kontribusi pengaruh yang diberikan oleh faktor faktor lain yang tidak diteliti.

Abstract. Fore Coffee is an original Indonesian coffee retail startup founded in 2018. Until now, Fore Coffee has 127 active outlets in 31 cities in Indonesia, one of which is the Fore Coffee outlet TSM Bandung, which is located on Jl. Gatot Subroto No. 289 Bandung, West Java. A business is inseparable from strategy, every company relies on a strategy to achieve its goals. In the midst of hectic coffee shop competition in Indonesia, every entrepreneur needs to think smart about the right strategy to use to maintain the existence of the coffee shop itself. Like Fore Coffee, which implements an up selling communication strategy as a marketing communication strategy implemented by the Barista. The purpose of this study was to find out the Up selling Communication Strategy carried out by Barista Fore Coffee. Researchers used qualitative research methods with a case study approach and used a constructivist paradigm. The informants in this study were 4 Baristas from the TSM Bandung Fore Coffee outlet and 3 Fore coffee customers. This study uses the theory of Behaviorism. The data in this study were obtained through semi structured interviews with sources, observation and documentation. The results of this study show that Barista Fore Coffee implements up selling communication as a marketing communication strategy for customers. It was also found that the up selling communication strategy carried out by Barista Fore Coffee was not solely carried out to increase sales through buying and selling agreements, but also to maintain a good image of the company through the services provided by the Barista. Abstrak. Fore Coffee merupakan startup kopi retail asli Indonesia yang didirikan pada tahun 2018. Hingga saat ini Fore Coffee telah memiliki 127 outlet aktif pada 31 Kota di Indonesia, salah satunya adalah Fore Coffee outlet TSM Bandung yang terletak di Jl. Gatot Subroto No.289 Bandung, Jawa Barat. Sebuah bisnis tidak terlepas dari strategi, setiap perusahaan mengandalkan sebuah strategi guna mencapai tujuannya. Di tengah ramainya persaingan Coffee shop di Indonesia, setiap pengusaha perlu berpikir cerdas terkait strategi yang tepat digunakan untuk mempertahankan keberadaan Coffee shopnya itu sendiri. Seperti halnya Fore Coffee yang menerapkan strategi komunikasi up selling sebagai strategi komunikasi pemasaran yang dijalankan oleh Barista. Tujuan penelitian ini adalah untuk mengetahui Strategi Komunikasi Up selling yang dilakukan oleh Barista Fore Coffee. Peneliti menggunakan metode penelitian kualitatif dengan pendekatan studi kasus dan menggunakan paradigma konstruktivis. Narasumber pada penelitian ini merupakan 4 orang Barista dari Fore Coffee outlet TSM Bandung dan 3 orang pelanggan Fore coffee. Penelitian ini menggunakan teori Behaviorisme. Data-data dalam penelitian ini diperoleh melalui wawancara semi terstruktur dengan para narasumber, observasi dan dokumentasi. Hasil dari penelitian ini diperoleh bahwa Barista Fore Coffee mengimplementasikan komunikasi up selling sebagai strategi komunikasi pemasaran yang diberikan terhadap pelanggan. Ditemukan pula bahwa strategi komunikasi up selling yang dilakukan Barista Fore Coffee bukan semata-mata dilakukan untuk meningkatkan penjualan melalui kesepakatan jual beli saja, melainkan juga untuk mempertahankan citra baik perusahaan melalui pelayanan yang diberikan oleh Barista.

Pertumbuhan coffee shop di kota Padang sangat pesat pada masa pandemi. Jumlah coffee shop yang terus bertambah perlu diimbangi dengan peningkatan pengetahuan dan keterampilan barista karena kualitas barista berdampak pada sustainability of the coffee shop. Realitanya, terdapat dua masalah utama yang dihadapi coffee shop: (1) para barista yang bekerja di coffee shop merupakan individu yang memiliki pengetahuan yang minim terkait pengolahan kopi, (2) akses pelatihan kopi professional yang terbatas di Pulau Jawa sehingga tidak terjangkau oleh para barista maupun calon barista. Berdasarkan masalah di atas, perlu adanya kegiatan pendampingan melalui kelas pelatihan kopi professional yang dilaksanakan bersama mitra Rimbun Coffee melalui FGD dengan mitra untuk mengidentifikasi masalah dan mendiskusikan solusi yang disepakati secara partisipatif dan tepat sasaran, diskusi dengan barista dan pemilik coffee shop, menyusun modul dan pelatihan keterampilan mengajar bagi calon fasilitator pada pelatihan kopi professional.

Abstract. The development of coffee in Indonesia has been very rapid, because coffee is one of the plantation commodities sold on the world market. With the development of coffee in Indonesia, the consumption of coffee and coffee shops in Indonesia has also increased, this shows the growth of new professional fields that are increasingly popular among Generation Z in the city of Bandung, one of which is becoming a Barista. Generation Z grew up in the digital era and has unique characteristics in building their identity. The Barista profession is an attractive career choice for generation Z, as it provides an opportunity to express their creativity, expertise and interest in the fast-growing world of coffee. The purpose of this research is to find out the motives, meanings, and personal branding formed in Generation Z who work as Baristas. This study uses a qualitative research method with a phenomenological approach. Thus, researchers here are trying to unravel the various existing phenomena by way of in-depth interviews, observation and documentation selected as data collection techniques. The phenomenon of the rise of the Barista profession, which is of great interest to Generation Z, is studied using the theory of self-identity along with Alfred Schutz's phenomenological approach in the hope of being able to analyze data and information about this phenomenon more deeply. The results of the study show that informants as generation Z have several motives, namely motives for forming self-confidence, increasing experience, and increasing self-existence. The Barista profession is also interpreted as a positive trend for informants so that the personal branding that is formed gives an image as a barista who has different characteristics and characteristics. Abstrak. Perkembangan kopi di Indonesia sudah sangat pesat, karena kopi sudah termasuk salah satu komoditas perkebunan yang dijual ke pasar dunia. Dengan berkembangnya kopi di Indonesia, maka meningkat pula konsumsi kopi dan kedai kopi di Indonesia, hal ini menunjukan tumbuh bidang profesi baru yang kian digemari di kalangan Generasi Z di Kota Bandung salah satunya menjadi seorang Barista. Generasi Z tumbuh dalam era digital dan memiliki karakteristik yang unik dalam membangun identitas mereka. Profesi Barista menjadi salah satu pilihan karir yang menarik bagi generasi Z, karena memberikan peluang untuk mengungkapkan kreativitas,keahlian, dan minat mereka di dunia kopi yang berkembang pesat. Tujuan penelitian ini untuk mengetahui Motif, Makna, dan personal branding yang terbentuk pada Generasi Z yang bekerja menjadi seorang Barista. Penelitian ini menggunakan metode penelitian kualitatif dengan pendekatan fenomenologi. Dengan demikian, peneliti disini berusaha untuk mengurai berbagai fenomena yang ada dengan cara, Wawancara yang mendalam, Observasi dan Dokumentasi dipilih sebagai Teknik pengumpulan data. Fenomena maraknya profesi Barista yang diminati banyak Generasi Z ini dikaji menggukan teori identitas diri bersama pendekatan fenomenologi Alfred Schutz dengan harapan dapat mengurai data dan informasi mengenai fenomena tersebut lebih mendalam. Hasil penelitian menunjukan informan selaku generasi Z memiliki beberapa motif yaitu motif membentuk kepercayaan diri, menambah pengalaman, dan meningkatkan eksistensi diri. Profesi Barista ini juga di maknai sebagai tren yang positif bagi para informan sehingga personal branding yang terbentuk memberikan image sebagai barista yang memiliki ciri khas dan karakteristik yang berbeda-beda.

Dewasa ini, pemasaran kopi dunia memasuki era ke tiga yang ditandai banyak munculnya kedai kopi modern (coffee shop). Selain itu muncul keinginan konsumen untuk lebih mengenal kopi dari origin hingga sampai kepada tahap akhir, mengkonsumsi minuman kopi yang nikmat sehingga melahirkan profesi barista. Oleh karenanya konsumen yang berada pada masa transisi akan dihadapkan pada masalah persepsi terhadap fenomena tersebut dalam kaitannya dengan keberlanjutan usaha. Penelitian ini bertujuan untuk mengetahui persepsi konsumen terhadap keberadaan coffee shop dan keberadaan barista pada era pemasaran kopi ke tiga di Kota Cirebon. Lokasi penelitian ditentukan secara sengaja yaitu di dua coffee shop yaitu Coffee shop Paten Coffee dan Coffee shop Katro. Penelitian dilaksanakan pada bulan April-Juni 2020 dengan menggunakan metode kuantitatif deskriptif dan teknik pendekatan survey. Populasi penelitian adalah konsumen minuman kopi di kedua kedai tersebut dan teknik pengambilan sampel secara accidental sampling sejumlah 45 responden. Adapun analisis data menggunakan kaidah perhitungan skala likert dan uji hipotesis menggunakan uji t. Hasil penelitian menyimpulkan bahwa persepsi konsumen terhadap keberadaan coffee shop adalah optimis (68,23 %) dan terhadap keberadaan barista juga optimis (68,11%) dalam pengembangan usaha minuman kopi. Hasil penilitian ini diharapkan bermanfaat bagi para investor yang hendak berinvestasi dalam pengembangan minuman kopi pada era ke tiga ini.Kata kunci: barista, coffee shop, era pemasaran ketiga, optimis

Penelitian ini bertujuan untuk mengetahui dan memahami bagaimana pentingnya Interaksi Personal antara Barista dengan Konsumen, dan melihat bagaimana proses komunikasi tersebut menciptakan dan mempengaruhi kepuasan konsumen khususnya Interaksi Personal antara Barista dengan Konsumen di Crematology Coffee Jakarta. Peneliti menggunakan metode penelitian kualitatif dengan metode studi kasus. Teknik pengumpulan data menggunakan observasi, wawancara, dan dokumentasi. Teori yang digunakan dalam penelitian merupakan teori Pertukaran Sosial yang mengkaji bahwa tindakan dan keputusan didasari dengan persepsi mengenai biaya atau usaha yang akan dikeluarkan, dan imbalan atau feedback yang akan didapatkan. Hasil penelitian ditemukan bahwa rata-rata konsumen sudah merasa cukup bahkan puas dengan layanan yang diberikan oleh barista di Crematology Coffee, dikarenakan kesesuaian dengan prosedur atau SOP, keramahan dan welcomenya barista, dan juga komunikasi yang interaktif yang diciptakan oleh barista berupa tindakan responsif dan komunikatif langsung dengan konsumennya.

Penelitian ini bertujuan untuk mendeskripsikan variasi bahasa yang digunakan barista coffee shop yang ada di Kecamatan Gubeng Kota Surabaya serta menjelaskan faktor-faktor apa saja yang mempengaruhi pemakaian variasi bahasa dalam komunikasinya. Penelitian ini adalah penelitian deskripstif kualitatif dengan mengumpulkan data berupa kata-kata yang menyangkut adanya variasi bahasa sesuai data yang ada di lapangan. Metode pengumpulan data yang digunakan yakni menggunakan sistem simak, rekam, dan catat berupa tuturan percakapan antara barista coffee shop yang melayani pembelinya. Lokasi penelitian yang diteliti ialah sepuluh coffee shop yang ada di Kecamatan Gubeng Kota Surabaya. Sesuai dengan hasil yang didapat dari lapangan, variasi bahasa yang digunakan oleh barista dan pembelinya pada saat di coffee shop yakni menggunakan bahasa informal. Seringnya penggunaan bahasa informal pada saat melakukan pelayanan di coffee shop dikarenakan banyaknya pengunjung dari kalangan remaja yang datang ke coffee shop untuk berkumpul bersama teman-temannya. Dalam komunikasi yang terjadi di coffee shop terdapat adanya bahasa campuran yang menjadi ciri dari variasi bahasa yang ada di coffee shop. Bahasa campuran yang terjadi di coffee shop yakni adanya bahasa Inggris dengan bahasa Indonesia, bahasa Inggris dengan bahasa Jawa, bahasa Jawa dengan bahasa Indonesia, penutur dan mitra tutur yang keduanya menggunakan menggunakan bahasa Jawa, dan bahasa Slang. Adanya bentuk variasi bahasa yang terjadi di coffee shop dipengaruhi oleh beberapa faktor yakni faktor usia, faktor keakraban, faktor jenis kelamin, dan faktor situasional Kata kunci : barista, coffee shop, informal, sosiolinguistik, variasi bahasa

This study is conducted to do comparison of consumer perception about Barista and Café Coffee Day. To conduct the study, we laid out some research objectives which measured consumers’ attitude across various parameters towards these coffee joints and compared them. The key aspect was to conduct a survey amongst those respondents who have been to both the coffee joints. Then do the comparison on different parameters and decide which coffee joint is perceived better by what demographic segment. The objectives included comparison of consumer perception of various products offered, measurement of consumer satisfaction, consumers’ willingness to pay, etc. All in all, the main objective was to find which café creates what value in the minds of consumer.Apart from that there were sub objectives which were to find current satisfaction levels of consumers and areas of improvement for the cafés. We did the survey on sample population of 200 people, which were of different demographic profiles. Out of these around 11 people did not qualify for the survey since they didn’t visit both the cafés even once. Once the survey was done, we did the cleanup of data to avoid bad data entries. We also made some assumptions to go ahead with the data analysis.

This report provides information on “Comparative Analysis of Consumer Preferences towards Café Coffee Day and Barista”. Café Coffee Day operates a retail chain of cafes in India. Its menu includes hot coffee, international coffee, cold coffee, hot chocolate, cool drinks, cool refreshers, soda, hot coffee, ice creams, coffee add ons, powder coffee, quick bites, sundaes, and tea. Barista is noted as a pioneer of Indian café culture. The Barista chain of espresso bars delivers a truly Italian coffee experience in warm, friendly and relaxed environments. It aims to provide a comfortable place for people to unwind over interesting conversations and a cup of coffee This report on the comparative study of Barista Vs café coffee day, compares them on the basis of their marketing mix, distribution system to their outlets, 7Ps of each, SWOT analysis of Barista and Café coffee day, customer satisfaction level towards Barista and Café coffee day and the comparative rating to the Barista and Café coffee

碩士
國立高雄師範大學
工業科技教育學系
104
ABSTRACT The study aims to explore consumers’ degree of acceptance of the corporate identity system (CIS) of Barista Coffee. The three important elements of CIS, namely,mind identity, visual identity, and behavioral identity, were used to develop a questionnaire for surveying the consumers of Barista Coffee. In this study, statistical analysis method is descriptive statistics, t test, one factor ANOVA,Scheffé Test, etc。 The results of the study found that : 1. The following is the chain of coffee shops the Seattle consumer corporate identity system acceptance:Consumers have a higher acceptance of environmental cleanliness and organizing charity events and Coffee Quality and service attitude. For corporate uniforms doll, moving line shop, acceptance is low。 2. Consumer acceptance of different backgrounds In terms of gender: More men than women than to accept Barista Coffee product profiles。 In terms of age: 15 to 25 years old have a higher acceptance for the concept of recognition, visual identity, corporate logo design, store furnishings, corporate colors, interior decoration, light, product descriptions, packaging, advertising catalogs, overall consistency and professional.。 In the academic qualifications: The senior high school or below have a higher acceptance for lighting , flow lines and welcome slogan。 In occupation: II Student consumers have a higher acceptance for the visual identity, corporate logo design,interior decoration, corporate colors, moving lines, service mode of order meals。 In terms of monthly income: Consumers with incomes in the range of NT$10–20,000 showed a higher level of acceptance for layout, color, lighting, flow lines, cleanliness,overall consistency and professionalism. As can be seen from the above results, the CIS of the Barista Coffee is favored by students and the younger generation. Keywords: Corporate Identity System , Barista Chain Coffee

AbstractFlying to Sydney for work came with the promise of exciting conversations and felt as though I fitted a week’s worth of work into a single day. In contrast, my Sisyphus goes to Sydney arrival had no meetings or conferences scheduled, nor any coffee catchups to go to. There was only one thing I had to do once I arrived in Sydney and that was to get a flight back home to Melbourne.

Abstract Coffee is one of the most commercially available raw materials, being the tropical product with the highest market value in the world. In Costa Rica it is the third most important product for agricultural exports and provides the main income for many families in the country. However, coffee is under threat due to coffee leaf rust disease (CLR). Mutation breeding in coffee is a promising approach to develop new varieties resistant to CLR. As a new technology for coffee, basic tests related to mutation induction need to be done. The plant material used was Coffea arabica var. 'Venecia' seeds, with a moisture content of 27.3%. The applied irradiation doses were 0, 80, 100, 120, 140, 160 and 180 Gy. For each treatment, three replicates of 200 g were used, with a seed number range of 765-808 units per replicate. The irradiated seeds were planted on the same day. Eighty days after treatment the number of seedlings was quantified, the hypocotyl height and radicle length were measured and the opening of cotyledons was determined for each dose. The effects of the radiation doses on seed germination frequency were recorded. At the dose of 80 Gy, germination was reduced over the control by 9.65%, at 100 Gy by 34.06%, at 120 Gy by 52.76%, at 140 Gy by 60.24%, at 160 Gy by 65.56% and at 180 Gy by 75.40%. Seedling growth was affected and a delay in opening of the cotyledons was observed at higher doses. This radiosensitivity test, based on seed germination as compared with unirradiated control, revealed that the LD₅₀ for the variety tested is in the range 100-120 Gy experimentally, and according to the regression is 125 ± 30 Gy. This dose will be used for further bulk experiments and is of great importance, because the LD₅₀ is considered as the range where the appearance of useful mutations in breeding programmes is favoured. The establishment of these parameters is a necessary advance to continue with measurements of genetic and phenotypical parameters to implement mutation breeding in coffee looking for new sources of resistance against CLR.

For many of us, coffee is our introduction to the day. Coffee serves as the introduction to this book and to some of the chemistry that creates our food, both natural and man-made. From growth to fermentation to roasting to brewing, there is a lot of chemistry that goes into a cup of coffee.

Abstract The first Café Coffee Day outlet was opened in Bengaluru in 1996, with new vision—where coffee was more than just a beverage. Today, the subsidiary Coffee Day Global Limited has established the largest footprint of café outlets in India-spread across more than 200 cities. It all started in 2017, when the Coffee Day Enterprise’s offices in Bengaluru were raided in the search for undisclosed income by the IT department. The searches in a group involved in coffee, tourism, information technology, and other areas concluded with an admission of previously concealed income exceeding Rs 650 crore. The detection of undisclosed income is expected to be a much higher figure. The business model of CCD is very attractive and we all personally like the business model, but one drawback was debt-centric, which means a huge amount of debt investment is required to run the business. As earlier mentioned CCD business is always a profit business but that profit is not in a position to meet such debt. As they were in a heavy debt, they started taking short-term loans in the form of debentures with high interest rates to pay off their long-term debt. This resulted in more heavy debt burden.

She stood there with tears in the kitchen, coffee under her nails and the fatigue, tiredness in a body that could not manage any more right now. She said that now she did not want to be a part any more, now they would have to find someone else who could work a whole day without going to the bathroom....

The area of homecare is not normally associated with the use of Information and Communication Technology (ICT). Today ICT and mobile ICT are being implemented within homecare practice to make the job of caring more effective and attractive. This chapter focuses attention on the human aspects when an automatic planning system and a handheld computer were implemented in a homecare practice. The aim of the chapter is to explore care workers’ experiences of how these technologies supported and facilitated their day-to-day work, but also how they affect daily work in practice. The authors’ findings indicate that some of the wants and needs for ICT of the homecare team regarding their work practice were met. The integration of principles from Participatory Action Research (PAR) in the Participatory Design (PD) process made it possible for staff to participate during the full development process, take part in the design process and make decisions during the whole trial.

Penelitian ini dilakukan untuk untuk mengetahui pola komunikasi antara barista dengan customer di Coconude Beverages Sweetened Jalan Wira Angun Angun No. 15 Kota Bandung. Adapun yang mendasari peneliti melakukan penelitian ini karena coffeeshop diseluruh penjuru nusantara, dalam melayani customer mereka menggunakan waiters atau seorang pelayan, jika seorang customer ingin memesan sesuatu, mereka memanggil waiters. Berbeda dengan coffeeshop Coconude Sweetended Beverages, mereka menggunakan Barista untuk melayani atau berkomunikasi langsung dengan customer. Jika para customer ingin memesan sesuatu mereka harus menghampiri bar untuk order menu yang customer inginkan. Penelitian ini menggunakan metode kualitatif dengan jenis penelitian deskriptif. Melakukan teknik pengumpulan data dengan observasi, wawancara mendalam (indepth interview) dan dokumentasi. Teknik analisis data yang digunakan dalam penbelitian ini adalah adalah reduksi data, penyajian data, penarikan kesimpulan. Hasil penelitian ini adalah. (1) Komunikasi yang digunakan oleh barista dengan customer yaitu komunikasi verbal dan nonverbal. (2) Media yang digunakan untuk berkomunikasi ialah pancaindera yang terdiri dari mata dan telinga (3) Effect yang didapatkan oleh barista dan customer adalah kognitif dan konatif.

The author aims to determine the denotation-reference map of new cultural and humanitarian holidays reflected in modern calendars. As a result of the survey of native speakers (234 people aged 17 to 70 years), only 20 holidays out of 50 passed the five percent threshold for knowledge of the existence of a holiday. Some of them are not related to religious or mythological systems, others refer to religious and mythological systems. The second part of the study was conducted in order to identify those holidays that have repetitive patterns of behavior. It was revealed that only 12 new calendar dates have such properties (International Day of Friendship; Intenational Yoga Day; World Kissing Day / International Kiss Day; International Cat Day, International Coffee Day; International Dance Holiday; International Hug Day; Earth Hour; Halloween; Day of the Dead; St Patrick’s Day; Valentine’s Day). The third stage was the identification of typical actions and holiday-related objects using a distributive analysis of the contexts describing them in the media. The results of the study indicate the predominance of the aesthetic function of a modern holiday over a world-modeling one and prove the hypothesis that when a holiday is transferred to another culture, it moves from a religious or mythological picture of the world to a naive one and loses its ritualism and sacred meaning. The results of the data analysis show that the cultural — humanitarian holiday, as a variant of the secular holiday concept, is distinguished by the predominance of the individual aspect over the social, the absence of a ritual component and connection with the narrative at the base of the event; the absence of a system of statuses, the presence of a system of roles; the absence of the process of creating a different space; these holidays are not a means of ethno-cultural identification. The obtained lists of dominant lexemes of cultural-humanitarian holidays are useful in selecting cultural material for creating textbooks on the Russian language for foreign students. The material of the analysis was the articles of the newspaper subcorpus of the Russian National Corpus. Refs 19.

The future applications of amylase have sparked the interest of several industries, resulting in the discovery of possible amylase-producing microbes. Aspergillus niger ICP2 was an indigenous fungus isolated from coffee pulp that shows amylolytic activity after growing on a soluble starch agar. In this study, we optimized the production and successfully purified the amylase from Aspergillus niger ICP2. Amylase optimization production was performed for a 7-day of incubation under submerged fermentation. The amylase activity was measured using the iodin method, and the total protein was quantified spectrophotometrically at 280 nm. Purifying amylase crude extract conducted such as ammonium sulfate precipitation, dialysis, and anion-exchange chromatography. Amylase was maximally precipitated at 90% saturation, followed by dialysis on a 10 kDa column, increasing specific activity up to 12.17 U/mg and purity multiples of 9.31 times. Two peaks of amylase activity were formed when the dialyzed amylase was loaded onto anion exchange chromatography with specific activities of 14.47 U/mg (fraction I) and 32.73 U/mg (fraction II). The increase in specific activity and purity fold indicated that the amylase purification process was successful.

BACKGROUND: As recreational cannabis use increases, it is important to document the context in which use occurs. Cannabis use contexts may relate to safety and daily functioning (e.g., if cannabis is used while driving or at work/school) as well as motives for use (e.g., if cannabis is used in social environments). The present study used ecological momentary assessment (EMA) to examine the context surrounding cannabis use in adults’ natural environments. METHODS: Participants were recruited for a longitudinal study of dual use of cigarette and e-cigarettes. Data were collected in Illinois prior to legalization of recreational cannabis use. Participants completed baseline questionnaires and two seven-day waves of EMA; the current study included those who reported cannabis use on EMA interviews. Participants completed EMA when randomly prompted (5-6 times/day) and when using tobacco products. EMA reports measured past-hour substance use and current location, behavior, and social environment. Descriptive analyses evaluated relative frequencies of EMA events when cannabis use was reported (cannabis use events) and not reported (non-use events). Cannabis use and non-use event frequencies were examined by social environment (alone; with a partner/spouse, family, friends, children, coworkers, other), location (home, school/work, coffee shop/restaurant, sport/entertainment venue, car, other transit, bar/club), and behavior (hanging out, socializing, transit/driving, relaxing, texting/talking on phone, using a computer/app, nothing, other). Participants chose one location and could select all items that applied for social environment and behavior. Event frequencies were also examined by day of the week and time of day (4:00-8:59 AM, 9:00 AM-1:59 PM, 2:00-5:59 PM, 6:00-9:59 PM, and 10:00 PM-3:50 AM). RESULTS: Data come from 200 participants (35.5% female; mean age = 30; 11.5% Hispanic/Latino; 44.5% Non-Hispanic White; 29.5% Non-Hispanic Black; 10.0% Asian/Pacific Islander; 4.5% other race/ethnicity). Past 6-month cannabis use frequency was reported at baseline: 12.5% no use, 10.5% monthly or less, 14% 2-4 times/month, 15% 2-3 times/week, 48% 4+ times/week. The average baseline score on the Cannabis Use Disorders Identification Test-Revised was 9.90 (SD = 6.57). Overall, 14,160 EMA events were captured with 2,672 cannabis use events and 11,488 non-use events. Most cannabis use (77.2%) occurred at home. 9.1% of cannabis use occurred when driving/in transit. At cannabis use times, participants reported hanging out (41.5%), relaxing (35.0%), watching TV/movies (29.2%), and socializing (24.4%). Participants were alone in 41.0% of cannabis use events; when not alone during cannabis use, participants were most often with friends (48.0% of social cannabis use events), a partner/spouse (43.1%), or a family member (24.1%). Cannabis use was relatively consistent across days of the week, with slight increases on Thursday (15.9%) and Friday (16.4%). Most cannabis use (34.5%) occurred between 6:00-9:59 PM. CONCLUSIONS: These findings characterize the naturalistic context of cannabis use among a community sample of adults. Most cannabis use occurred at home and when engaging in leisure activities (e.g., relaxing, hanging out). Cannabis use did not appear to be very common in hazardous situations (e.g., while driving). As cannabis use continues to increase, the naturalistic context of cannabis use has implications for safety, motives, and cannabis use disorder.

Of 57 patients with acute myocardial infarction (AMI) treated with rt-PA, we observed 2 major bleeding complications, both in patients who had been treated with anti-inflammatory drugs prior to admission. The thrombolytic protocol included: lOmg rt-PA in bolus and continuous infusion of 110 mg over 6 hr 5,000 iu heparin in bolus and continuous infusion of 25,000 iu/ 24hr, and aspirin 250 mg/24hr. The first patient, a 64 year old woman had been taking indomethacin 25 mg × 3 daily, during 3 weeks prior to the AMI. Rt-PA protocol was initiated with relief of chest pain and disappearance of ST elevation, but at 2 hr rt, sciatic pain developed. Treatment was continued accor ding to protocol in spite of the pain, but on the 3rd day hemoglobin decreased to 7.8%. Abdominal CT scan disclosed retroperitoneal hemorrhage. All anticoagulant medications were stopped, and 4 units of blood were transfused. The retro-peritoneal mass dissolved gradually. The second patient, a 68 year old male was treated by diclofenac 100 mg for 5 days prior to admission for AMI, and consequently aspirin was removed from the rt-PA protocol. However, 2 hr after completion of the 6 hr rt-PA infusion, gross hematuria and a “coffee ground” vomiting developed. Heparin infusion was discontinued and antacid treatment initiated, resulting in cessation of bleeding within a few hrs. In both patients the anticipated prolongation of APTT (heparin) and about 30% decrease in fibrinogen level were observed as the sole abnormality, and thus we related the bleeding episodes to the anti-aggregating effect of indomethacin and diclofenac respectively. We suggest that the use of anti-inflammatory drugs prior to administration of rt-PA protocol can be hazardous, and that special prudence (possibly protocol modification) is warranted.

1.1 Macroeconomic summary Economic recovery has consistently outperformed the technical staff’s expectations following a steep decline in activity in the second quarter of 2020. At the same time, total and core inflation rates have fallen and remain at low levels, suggesting that a significant element of the reactivation of Colombia’s economy has been related to recovery in potential GDP. This would support the technical staff’s diagnosis of weak aggregate demand and ample excess capacity. The most recently available data on 2020 growth suggests a contraction in economic activity of 6.8%, lower than estimates from January’s Monetary Policy Report (-7.2%). High-frequency indicators suggest that economic performance was significantly more dynamic than expected in January, despite mobility restrictions and quarantine measures. This has also come amid declines in total and core inflation, the latter of which was below January projections if controlling for certain relative price changes. This suggests that the unexpected strength of recent growth contains elements of demand, and that excess capacity, while significant, could be lower than previously estimated. Nevertheless, uncertainty over the measurement of excess capacity continues to be unusually high and marked both by variations in the way different economic sectors and spending components have been affected by the pandemic, and by uneven price behavior. The size of excess capacity, and in particular the evolution of the pandemic in forthcoming quarters, constitute substantial risks to the macroeconomic forecast presented in this report. Despite the unexpected strength of the recovery, the technical staff continues to project ample excess capacity that is expected to remain on the forecast horizon, alongside core inflation that will likely remain below the target. Domestic demand remains below 2019 levels amid unusually significant uncertainty over the size of excess capacity in the economy. High national unemployment (14.6% for February 2021) reflects a loose labor market, while observed total and core inflation continue to be below 2%. Inflationary pressures from the exchange rate are expected to continue to be low, with relatively little pass-through on inflation. This would be compatible with a negative output gap. Excess productive capacity and the expectation of core inflation below the 3% target on the forecast horizon provide a basis for an expansive monetary policy posture. The technical staff’s assessment of certain shocks and their expected effects on the economy, as well as the presence of several sources of uncertainty and related assumptions about their potential macroeconomic impacts, remain a feature of this report. The coronavirus pandemic, in particular, continues to affect the public health environment, and the reopening of Colombia’s economy remains incomplete. The technical staff’s assessment is that the COVID-19 shock has affected both aggregate demand and supply, but that the impact on demand has been deeper and more persistent. Given this persistence, the central forecast accounts for a gradual tightening of the output gap in the absence of new waves of contagion, and as vaccination campaigns progress. The central forecast continues to include an expected increase of total and core inflation rates in the second quarter of 2021, alongside the lapse of the temporary price relief measures put in place in 2020. Additional COVID-19 outbreaks (of uncertain duration and intensity) represent a significant risk factor that could affect these projections. Additionally, the forecast continues to include an upward trend in sovereign risk premiums, reflected by higher levels of public debt that in the wake of the pandemic are likely to persist on the forecast horizon, even in the context of a fiscal adjustment. At the same time, the projection accounts for the shortterm effects on private domestic demand from a fiscal adjustment along the lines of the one currently being proposed by the national government. This would be compatible with a gradual recovery of private domestic demand in 2022. The size and characteristics of the fiscal adjustment that is ultimately implemented, as well as the corresponding market response, represent another source of forecast uncertainty. Newly available information offers evidence of the potential for significant changes to the macroeconomic scenario, though without altering the general diagnosis described above. The most recent data on inflation, growth, fiscal policy, and international financial conditions suggests a more dynamic economy than previously expected. However, a third wave of the pandemic has delayed the re-opening of Colombia’s economy and brought with it a deceleration in economic activity. Detailed descriptions of these considerations and subsequent changes to the macroeconomic forecast are presented below. The expected annual decline in GDP (-0.3%) in the first quarter of 2021 appears to have been less pronounced than projected in January (-4.8%). Partial closures in January to address a second wave of COVID-19 appear to have had a less significant negative impact on the economy than previously estimated. This is reflected in figures related to mobility, energy demand, industry and retail sales, foreign trade, commercial transactions from selected banks, and the national statistics agency’s (DANE) economic tracking indicator (ISE). Output is now expected to have declined annually in the first quarter by 0.3%. Private consumption likely continued to recover, registering levels somewhat above those from the previous year, while public consumption likely increased significantly. While a recovery in investment in both housing and in other buildings and structures is expected, overall investment levels in this case likely continued to be low, and gross fixed capital formation is expected to continue to show significant annual declines. Imports likely recovered to again outpace exports, though both are expected to register significant annual declines. Economic activity that outpaced projections, an increase in oil prices and other export products, and an expected increase in public spending this year account for the upward revision to the 2021 growth forecast (from 4.6% with a range between 2% and 6% in January, to 6.0% with a range between 3% and 7% in April). As a result, the output gap is expected to be smaller and to tighten more rapidly than projected in the previous report, though it is still expected to remain in negative territory on the forecast horizon. Wide forecast intervals reflect the fact that the future evolution of the COVID-19 pandemic remains a significant source of uncertainty on these projections. The delay in the recovery of economic activity as a result of the resurgence of COVID-19 in the first quarter appears to have been less significant than projected in the January report. The central forecast scenario expects this improved performance to continue in 2021 alongside increased consumer and business confidence. Low real interest rates and an active credit supply would also support this dynamic, and the overall conditions would be expected to spur a recovery in consumption and investment. Increased growth in public spending and public works based on the national government’s spending plan (Plan Financiero del Gobierno) are other factors to consider. Additionally, an expected recovery in global demand and higher projected prices for oil and coffee would further contribute to improved external revenues and would favor investment, in particular in the oil sector. Given the above, the technical staff’s 2021 growth forecast has been revised upward from 4.6% in January (range from 2% to 6%) to 6.0% in April (range from 3% to 7%). These projections account for the potential for the third wave of COVID-19 to have a larger and more persistent effect on the economy than the previous wave, while also supposing that there will not be any additional significant waves of the pandemic and that mobility restrictions will be relaxed as a result. Economic growth in 2022 is expected to be 3%, with a range between 1% and 5%. This figure would be lower than projected in the January report (3.6% with a range between 2% and 6%), due to a higher base of comparison given the upward revision to expected GDP in 2021. This forecast also takes into account the likely effects on private demand of a fiscal adjustment of the size currently being proposed by the national government, and which would come into effect in 2022. Excess in productive capacity is now expected to be lower than estimated in January but continues to be significant and affected by high levels of uncertainty, as reflected in the wide forecast intervals. The possibility of new waves of the virus (of uncertain intensity and duration) represents a significant downward risk to projected GDP growth, and is signaled by the lower limits of the ranges provided in this report. Inflation (1.51%) and inflation excluding food and regulated items (0.94%) declined in March compared to December, continuing below the 3% target. The decline in inflation in this period was below projections, explained in large part by unanticipated increases in the costs of certain foods (3.92%) and regulated items (1.52%). An increase in international food and shipping prices, increased foreign demand for beef, and specific upward pressures on perishable food supplies appear to explain a lower-than-expected deceleration in the consumer price index (CPI) for foods. An unexpected increase in regulated items prices came amid unanticipated increases in international fuel prices, on some utilities rates, and for regulated education prices. The decline in annual inflation excluding food and regulated items between December and March was in line with projections from January, though this included downward pressure from a significant reduction in telecommunications rates due to the imminent entry of a new operator. When controlling for the effects of this relative price change, inflation excluding food and regulated items exceeds levels forecast in the previous report. Within this indicator of core inflation, the CPI for goods (1.05%) accelerated due to a reversion of the effects of the VAT-free day in November, which was largely accounted for in February, and possibly by the transmission of a recent depreciation of the peso on domestic prices for certain items (electric and household appliances). For their part, services prices decelerated and showed the lowest rate of annual growth (0.89%) among the large consumer baskets in the CPI. Within the services basket, the annual change in rental prices continued to decline, while those services that continue to experience the most significant restrictions on returning to normal operations (tourism, cinemas, nightlife, etc.) continued to register significant price declines. As previously mentioned, telephone rates also fell significantly due to increased competition in the market. Total inflation is expected to continue to be affected by ample excesses in productive capacity for the remainder of 2021 and 2022, though less so than projected in January. As a result, convergence to the inflation target is now expected to be somewhat faster than estimated in the previous report, assuming the absence of significant additional outbreaks of COVID-19. The technical staff’s year-end inflation projections for 2021 and 2022 have increased, suggesting figures around 3% due largely to variation in food and regulated items prices. The projection for inflation excluding food and regulated items also increased, but remains below 3%. Price relief measures on indirect taxes implemented in 2020 are expected to lapse in the second quarter of 2021, generating a one-off effect on prices and temporarily affecting inflation excluding food and regulated items. However, indexation to low levels of past inflation, weak demand, and ample excess productive capacity are expected to keep core inflation below the target, near 2.3% at the end of 2021 (previously 2.1%). The reversion in 2021 of the effects of some price relief measures on utility rates from 2020 should lead to an increase in the CPI for regulated items in the second half of this year. Annual price changes are now expected to be higher than estimated in the January report due to an increased expected path for fuel prices and unanticipated increases in regulated education prices. The projection for the CPI for foods has increased compared to the previous report, taking into account certain factors that were not anticipated in January (a less favorable agricultural cycle, increased pressure from international prices, and transport costs). Given the above, year-end annual inflation for 2021 and 2022 is now expected to be 3% and 2.8%, respectively, which would be above projections from January (2.3% and 2,7%). For its part, expected inflation based on analyst surveys suggests year-end inflation in 2021 and 2022 of 2.8% and 3.1%, respectively. There remains significant uncertainty surrounding the inflation forecasts included in this report due to several factors: 1) the evolution of the pandemic; 2) the difficulty in evaluating the size and persistence of excess productive capacity; 3) the timing and manner in which price relief measures will lapse; and 4) the future behavior of food prices. Projected 2021 growth in foreign demand (4.4% to 5.2%) and the supposed average oil price (USD 53 to USD 61 per Brent benchmark barrel) were both revised upward. An increase in long-term international interest rates has been reflected in a depreciation of the peso and could result in relatively tighter external financial conditions for emerging market economies, including Colombia. Average growth among Colombia’s trade partners was greater than expected in the fourth quarter of 2020. This, together with a sizable fiscal stimulus approved in the United States and the onset of a massive global vaccination campaign, largely explains the projected increase in foreign demand growth in 2021. The resilience of the goods market in the face of global crisis and an expected normalization in international trade are additional factors. These considerations and the expected continuation of a gradual reduction of mobility restrictions abroad suggest that Colombia’s trade partners could grow on average by 5.2% in 2021 and around 3.4% in 2022. The improved prospects for global economic growth have led to an increase in current and expected oil prices. Production interruptions due to a heavy winter, reduced inventories, and increased supply restrictions instituted by producing countries have also contributed to the increase. Meanwhile, market forecasts and recent Federal Reserve pronouncements suggest that the benchmark interest rate in the U.S. will remain stable for the next two years. Nevertheless, a significant increase in public spending in the country has fostered expectations for greater growth and inflation, as well as increased uncertainty over the moment in which a normalization of monetary policy might begin. This has been reflected in an increase in long-term interest rates. In this context, emerging market economies in the region, including Colombia, have registered increases in sovereign risk premiums and long-term domestic interest rates, and a depreciation of local currencies against the dollar. Recent outbreaks of COVID-19 in several of these economies; limits on vaccine supply and the slow pace of immunization campaigns in some countries; a significant increase in public debt; and tensions between the United States and China, among other factors, all add to a high level of uncertainty surrounding interest rate spreads, external financing conditions, and the future performance of risk premiums. The impact that this environment could have on the exchange rate and on domestic financing conditions represent risks to the macroeconomic and monetary policy forecasts. Domestic financial conditions continue to favor recovery in economic activity. The transmission of reductions to the policy interest rate on credit rates has been significant. The banking portfolio continues to recover amid circumstances that have affected both the supply and demand for loans, and in which some credit risks have materialized. Preferential and ordinary commercial interest rates have fallen to a similar degree as the benchmark interest rate. As is generally the case, this transmission has come at a slower pace for consumer credit rates, and has been further delayed in the case of mortgage rates. Commercial credit levels stabilized above pre-pandemic levels in March, following an increase resulting from significant liquidity requirements for businesses in the second quarter of 2020. The consumer credit portfolio continued to recover and has now surpassed February 2020 levels, though overall growth in the portfolio remains low. At the same time, portfolio projections and default indicators have increased, and credit establishment earnings have come down. Despite this, credit disbursements continue to recover and solvency indicators remain well above regulatory minimums. 1.2 Monetary policy decision In its meetings in March and April the BDBR left the benchmark interest rate unchanged at 1.75%.

Macroeconomic summary Several factors contributed to an increase in projected inflation on the forecast horizon, keeping it above the target rate. These included inflation in December that surpassed expectations (5.62%), indexation to higher inflation rates for various baskets in the consumer price index (CPI), a significant real increase in the legal minimum wage, persistent external and domestic inflationary supply shocks, and heightened exchange rate pressures. The CPI for foods was affected by the persistence of external and domestic supply shocks and was the most significant contributor to unexpectedly high inflation in the fourth quarter. Price adjustments for fuels and certain utilities can explain the acceleration in inflation for regulated items, which was more significant than anticipated. Prices in the CPI for goods excluding food and regulated items also rose more than expected. This was partly due to a smaller effect on prices from the national government’s VAT-free day than anticipated by the technical staff and more persistent external pressures, including via peso depreciation. By contrast, the CPI for services excluding food and regulated items accelerated less than expected, partly reflecting strong competition in the communications sector. This was the only major CPI basket for which prices increased below the target inflation rate. The technical staff revised its inflation forecast upward in response to certain external shocks (prices, costs, and depreciation) and domestic shocks (e.g., on meat products) that were stronger and more persistent than anticipated in the previous report. Observed inflation and a real increase in the legal minimum wage also exceeded expectations, which would boost inflation by affecting price indexation, labor costs, and inflation expectations. The technical staff now expects year-end headline inflation of 4.3% in 2022 and 3.4% in 2023; core inflation is projected to be 4.5% and 3.6%, respectively. These forecasts consider the lapse of certain price relief measures associated with the COVID-19 health emergency, which would contribute to temporarily keeping inflation above the target on the forecast horizon. It is important to note that these estimates continue to contain a significant degree of uncertainty, mainly related to the development of external and domestic supply shocks and their ultimate effects on prices. Other contributing factors include high price volatility and measurement uncertainty related to the extension of Colombia’s health emergency and tax relief measures (such as the VAT-free days) associated with the Social Investment Law (Ley de Inversión Social). The as-yet uncertain magnitude of the effects of a recent real increase in the legal minimum wage (that was high by historical standards) and high observed and expected inflation, are additional factors weighing on the overall uncertainty of the estimates in this report. The size of excess productive capacity remaining in the economy and the degree to which it is closing are also uncertain, as the evolution of the pandemic continues to represent a significant forecast risk. margin, could be less dynamic than expected. And the normalization of monetary policy in the United States could come more quickly than projected in this report, which could negatively affect international financing costs. Finally, there remains a significant degree of uncertainty related to the duration of supply chocks and the degree to which macroeconomic and political conditions could negatively affect the recovery in investment. The technical staff revised its GDP growth projection for 2022 from 4.7% to 4.3% (Graph 1.3). This revision accounts for the likelihood that a larger portion of the recent positive dynamic in private consumption would be transitory than previously expected. This estimate also contemplates less dynamic investment behavior than forecast in the previous report amid less favorable financial conditions and a highly uncertain investment environment. Third-quarter GDP growth (12.9%), which was similar to projections from the October report, and the fourth-quarter growth forecast (8.7%) reflect a positive consumption trend, which has been revised upward. This dynamic has been driven by both public and private spending. Investment growth, meanwhile, has been weaker than forecast. Available fourth-quarter data suggest that consumption spending for the period would have exceeded estimates from October, thanks to three consecutive months that included VAT-free days, a relatively low COVID-19 caseload, and mobility indicators similar to their pre-pandemic levels. By contrast, the most recently available figures on new housing developments and machinery and equipment imports suggest that investment, while continuing to rise, is growing at a slower rate than anticipated in the previous report. The trade deficit is expected to have widened, as imports would have grown at a high level and outpaced exports. Given the above, the technical staff now expects fourth-quarter economic growth of 8.7%, with overall growth for 2021 of 9.9%. Several factors should continue to contribute to output recovery in 2022, though some of these may be less significant than previously forecast. International financial conditions are expected to be less favorable, though external demand should continue to recover and terms of trade continue to increase amid higher projected oil prices. Lower unemployment rates and subsequent positive effects on household income, despite increased inflation, would also boost output recovery, as would progress in the national vaccination campaign. The technical staff expects that the conditions that have favored recent high levels of consumption would be, in large part, transitory. Consumption spending is expected to grow at a slower rate in 2022. Gross fixed capital formation (GFCF) would continue to recover, approaching its pre-pandemic level, though at a slower rate than anticipated in the previous report. This would be due to lower observed GFCF levels and the potential impact of political and fiscal uncertainty. Meanwhile, the policy interest rate would be less expansionary as the process of monetary policy normalization continues. Given the above, growth in 2022 is forecast to decelerate to 4.3% (previously 4.7%). In 2023, that figure (3.1%) is projected to converge to levels closer to the potential growth rate. In this case, excess productive capacity would be expected to tighten at a similar rate as projected in the previous report. The trade deficit would tighten more than previously projected on the forecast horizon, due to expectations of an improved export dynamic and moderation in imports. The growth forecast for 2022 considers a low basis of comparison from the first half of 2021. However, there remain significant downside risks to this forecast. The current projection does not, for example, account for any additional effects on economic activity resulting from further waves of COVID-19. High private consumption levels, which have already surpassed pre-pandemic levels by a large margin, could be less dynamic than expected. And the normalization of monetary policy in the United States could come more quickly than projected in this report, which could negatively affect international financing costs. Finally, there remains a significant degree of uncertainty related to the duration of supply chocks and the degree to which macroeconomic and political conditions could negatively affect the recovery in investment. External demand for Colombian goods and services should continue to recover amid significant global inflation pressures, high oil prices, and less favorable international financial conditions than those estimated in October. Economic activity among Colombia’s major trade partners recovered in 2021 amid countries reopening and ample international liquidity. However, that growth has been somewhat restricted by global supply chain disruptions and new outbreaks of COVID-19. The technical staff has revised its growth forecast for Colombia’s main trade partners from 6.3% to 6.9% for 2021, and from 3.4% to 3.3% for 2022; trade partner economies are expected to grow 2.6% in 2023. Colombia’s annual terms of trade increased in 2021, largely on higher oil, coffee, and coal prices. This improvement came despite increased prices for goods and services imports. The expected oil price trajectory has been revised upward, partly to supply restrictions and lagging investment in the sector that would offset reduced growth forecasts in some major economies. Elevated freight and raw materials costs and supply chain disruptions continue to affect global goods production, and have led to increases in global prices. Coupled with the recovery in global demand, this has put upward pressure on external inflation. Several emerging market economies have continued to normalize monetary policy in this context. Meanwhile, in the United States, the Federal Reserve has anticipated an end to its asset buying program. U.S. inflation in December (7.0%) was again surprisingly high and market average inflation forecasts for 2022 have increased. The Fed is expected to increase its policy rate during the first quarter of 2022, with quarterly increases anticipated over the rest of the year. For its part, Colombia’s sovereign risk premium has increased and is forecast to remain on a higher path, to levels above the 15-year-average, on the forecast horizon. This would be partly due to the effects of a less expansionary monetary policy in the United States and the accumulation of macroeconomic imbalances in Colombia. Given the above, international financial conditions are projected to be less favorable than anticipated in the October report. The increase in Colombia’s external financing costs could be more significant if upward pressures on inflation in the United States persist and monetary policy is normalized more quickly than contemplated in this report. As detailed in Section 2.3, uncertainty surrounding international financial conditions continues to be unusually high. Along with other considerations, recent concerns over the potential effects of new COVID-19 variants, the persistence of global supply chain disruptions, energy crises in certain countries, growing geopolitical tensions, and a more significant deceleration in China are all factors underlying this uncertainty. The changing macroeconomic environment toward greater inflation and unanchoring risks on inflation expectations imply a reduction in the space available for monetary policy stimulus. Recovery in domestic demand and a reduction in excess productive capacity have come in line with the technical staff’s expectations from the October report. Some upside risks to inflation have materialized, while medium-term inflation expectations have increased and are above the 3% target. Monetary policy remains expansionary. Significant global inflationary pressures and the unexpected increase in the CPI in December point to more persistent effects from recent supply shocks. Core inflation is trending upward, but remains below the 3% target. Headline and core inflation projections have increased on the forecast horizon and are above the target rate through the end of 2023. Meanwhile, the expected dynamism of domestic demand would be in line with low levels of excess productive capacity. An accumulation of macroeconomic imbalances in Colombia and the increased likelihood of a faster normalization of monetary policy in the United States would put upward pressure on sovereign risk perceptions in a more persistent manner, with implications for the exchange rate and the natural rate of interest. Persistent disruptions to international supply chains, a high real increase in the legal minimum wage, and the indexation of various baskets in the CPI to higher inflation rates could affect price expectations and push inflation above the target more persistently. These factors suggest that the space to maintain monetary stimulus has continued to diminish, though monetary policy remains expansionary. 1.2 Monetary policy decision Banco de la República’s board of directors (BDBR) in its meetings in December 2021 and January 2022 voted to continue normalizing monetary policy. The BDBR voted by a majority in these two meetings to increase the benchmark interest rate by 50 and 100 basis points, respectively, bringing the policy rate to 4.0%.