The Colombian Government raises the minimum wage by 23.7%, which will be about $535 in 2026

Bogotá.- The Colombian government announced this Monday an unprecedented 23.7% increase in the minimum wage, which was set for 2026 at two million pesos (about 535 dollars) including the transportation subsidy, President Gustavo Petro informed. The president said in an address: “we are moving to a minimum family living wage of 1,746,882 pesos (about 468 dollars)”, which represents an increase of 22.7%, to which is added about 250,000 pesos (about 67 dollars) in transportation subsidy, which gives two million pesos. “With these measures we intend to reduce inequality,” said the president, who acknowledged that “there will be pressure on prices,” but noted that, according to an Italian economist, “inflation is a fight for the democratization of wealth.”