Petro reiterates call to SIC to investigate excessive price hikes

President Gustavo Petro urged the Superintendencia de Industria y Comercio to probe unjustified increases in goods and services tied to the recent vital salary hike. In a televised Council of Ministers, he criticized practices exploiting the 23.7% salary rise to inflate costs in areas like education and building management.

During a televised Council of Ministers, President Gustavo Petro discussed the country's fiscal situation and the effects of the 23.7% vital salary increase. He stressed the importance of providing Colombians with clear information on prices and renewed his appeal to the Superintendencia de Industria y Comercio (SIC) to investigate excessive hikes in goods and services.

Petro noted that certain sectors are using the salary rise to justify undue increases, labeling it as opportunism. "A vital salary is now in effect and there's a whole fuss about prices going up," the president stated, calling for sanctions against those responsible. "The superintendent of Commerce must take note," he added.

He cited the education sector, where private school tuition rises by 23%, yet psychologists' pay increases by only 5%. "Every public or private school must have a psychology service... free. [...] They're stealing money from parents; it's that simple," he said. Similar issues arise in building management firms and other areas.

The president upheld the salary boost as key to ensuring decent living standards. "Vital salary means just that: being able to buy enough for life," he explained, linking it to the Social State of Law principle. He warned that overturning the decree would signal disregard for wages that support a dignified existence.

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President Gustavo Petro announces 23% minimum wage hike to $1,750,905 COP for 2026 at podium, with cheering workers and concerned business leaders.
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Petro Decrees 23% Minimum Wage Increase to $1,750,905 for 2026 After Stalled Talks

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Following the anticipated Dec 29-30 announcement after failed Tripartite Commission negotiations—as previously reported—President Gustavo Petro decreed a 23% hike to the 2026 legal monthly minimum wage, setting it at $1,750,905 plus $249,095 transport allowance (up 24.5%), totaling $2 million. The move aims to cover vital family living costs amid criticism from business leaders over economic risks.

President Gustavo Petro announced that, alongside the Superintendencia de Industria y Comercio (SIC), they will investigate any company irrationally raising prices to customers at the start of the new year. The initiative aims to safeguard consumer rights and foster fair market conditions. Citizens can report unjustified hikes directly to the SIC.

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President Gustavo Petro warned construction firms against deceptive housing pricing practices and requested probes by the Superintendence of Surveillance. He accused some companies of scamming customers by indexing prices to the minimum wage, despite drops in material costs. He also urged withholding subsidies from irregular firms.

Following President Gustavo Petro's declaration of a 30-day economic and social emergency, Colombia's Senate has approved summoning all ministers to a political control debate on December 29. The hybrid session, set amid legislative recess, aims to examine the fiscal crisis and the decree's implications after Congress rejected tax reforms.

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President Gustavo Petro announced the end of private road concessions as his government's primary budget-saving measure, shifting management to the state to potentially reduce tolls. This follows the recent confirmation of a 5.30% toll increase starting January 2026 tied to inflation.

Following Decree 1428 of 2025's announcement to end diesel subsidies for private, diplomatic, and official vehicles—raising prices by ~$3,000 while sparing public transport—service stations in affected regions raise operational issues amid the Colombian government's FEPC reforms.

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The Central Unitaria de Trabajadores (CUT) valued Interior Minister Armando Benedetti's proposal for a 12% increase in the 2026 minimum wage but urged the government to get closer to the 16% sought by unions. CUT president Fabio Arias made this direct appeal to President Gustavo Petro. Negotiations continue with key dates from December 22 to 30.

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