Colombia ended 2021 with a annual inflation of 5.62%, the highest in the last 5 years.
(See: Inflation rises worldwide due to the effects of the pandemic).
According to data provided by the National Administrative Department of Statistics (Dane), the sectors with the most important variations in inflation last year were food and drinks (17.23%), restaurants and hotels (8.83%) and transportation (5.69%).
And international phenomena such as problems in supply chains (which have made some supplies more expensive) and local situations such as the national strike influenced the rise in the value that consumers pay for the products of the basic basket in the country.
(See: Poor households, with inflation 2.5 points higher than the rich).
Looking at inflation by sectors, it was concluded that the poor and vulnerable households ended 2021 with an inflation of 6.85%, While for the rich registered 4.39%.
It is a gap between one and the other, according to the Dane, “It is associated with two very important elements: the greater weight that food and leases and public services have within the basket of households living in poverty.“.
(See: Leases, tolls and UVR, on the rise due to inflation).
Having these data clear, what was then the increase in real terms of the minimum wage for 2022.
THE MINIMUM
It should be remembered that the minimum wage in Colombia for this year is one million pesos plus the transportation subsidy of 117,172 pesos.
(See: Potatoes, oil and meats, the foods with the highest inflation).
The increase compared to 2021 was 10.07%, but taking into account the data inflationary last year, the real rise of the minimum will be 4.45% at a general level, while for poor families it will be 3.22%.
(See: Can the economy grow with a fall in the peso and a rise in inflation?).
BRIEFCASE
