Bancolombia Expects Colombia’s Food Inflation to Hold Near 6% as June Prices Cool

Tubers and onions jump while pork and plantains ease in June data.

Colombia’s grocery bills changed little in June, according to the latest Grupo Cibest (NYSE: CIB; BVC: CIBEST) Food Prices Monitor, prepared by the economic research team at Bancolombia. The report estimates that total food inflation came in at -0.02% month-over-month for June 2026, a figure consistent with an annual food inflation rate of 6.12%.

“We estimate that total food inflation will come in at -0.02% month-over-month in June 2026. On an annual basis, this is consistent with food inflation of 6.12%.” — Bancolombia economic research team, Food Prices Monitor, June 2026

The monitor tracks short-term movements in staple commodities that carry a high weight in the food component of the Consumer Price Index (CPI). It combines purchasing activity captured in neighborhood stores and small grocery outlets by Servinformacion with wholesale price data from Colombia’s main food markets, reported through the Sistema de Información de Precios y Abastecimiento del Sector Agropecuario (SIPSA, the agricultural price and supply information system) and published by the Departamento Administrativo Nacional de Estadística (DANE, the National Administrative Department of Statistics).

Meat prices split by category

Within the protein basket, beef prices rose in June while poultry and pork fell. The largest monthly gains were in prepared meats, up 2.4%, and beef, up 0.47%. The steepest declines were in pork, down 1.46%, and poultry, down 0.74%.

Monthly price change by protein category, June 2026. Source: Grupo Cibest / Bancolombia, Food Prices Monitor.

Tubers and onions climb as plantains retreat

Fresh produce showed mixed dynamics. The largest monthly increases were in arracacha, yam and other tubers, up 19%, onions, up 12%, and potatoes, up 6.3%. Moving the other way, plantains fell 8%, blackberries dropped 3%, and vegetables and legumes eased 1.51%.

Monthly price change for selected fresh produce, June 2026. Source: Grupo Cibest / Bancolombia, Food Prices Monitor.

Seasonal correction across processed and perishable food

The report points to a moderation in price dynamics across both the processed and perishable food components. Bancolombia’s team expects processed foods to post a monthly increase of 0.15% in June, 14 basis points lower than in May, which implies an annual inflation rate of 4.62%. Perishables are projected to show a less pronounced contraction, narrowing from -0.99% in May to -0.60% in June and corresponding to a year-over-year increase of 10.9%. The research team attributes those outcomes largely to seasonal factors that continue to support a correction in prices.

Estimated annual food inflation by component, June 2026; monthly change shown inside each bar. Source: Grupo Cibest / Bancolombia, Food Prices Monitor.

Taken together, the estimates leave total food inflation essentially flat on the month at -0.02%, and at 6.12% over the past year. Bancolombia frames the June reading as evidence that the seasonal correction underway in perishable and processed food prices is holding, even as individual items such as tubers and onions continue to swing sharply from one month to the next. The food basket remains one component of the broader inflation picture Bancolombia has tracked through 2026.

Headline image description: A bar graph showing the estimated annual food inflation by component, with monthly changes shown inside each bar. Graph created by Finance Colombia.