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Bancolombia's June tracker points to flat monthly food prices and a 6.12% annual rate as tuber and onion spikes offset seasonal declines.

Service-oriented and labor-intensive businesses may face higher operating costs due to the 23% minimum wage hike and its immediate impact on indexed service categories

Perishable food prices dropped 0.09%, fresh fruit climbed 2.38%, with grapes up 12.25%, plantains 3.72%, carrots 9.93%, oranges 6.12%.

Imported dry peas, yellow corn, lentils fell; domestic beans, prime rice, corn on the cob rose.

Vegetable prices rose over 10% for onions, tomatoes, and more due to rain-reduced harvests in Boyacá, Nariño, and Cundinamarca.

These price fluctuations are largely attributed to an increase in supply due to weather and regional harvests.

Almost 40% of Colombia’s exports of non-mining goods were destined for Latin America and The Caribbean in September