Colombia's peso climbs and food prices stabilize as election runoff approaches

On June 9, 2026 the Colombian peso traded above 3,500 per US dollar, with the official TRM set at 3,588.09 pesos. Analysts linked the rise to the upcoming second‑round presidential election on June 21 and to the central bank’s 11.25% interest rate, while lower global oil prices provided additional support.

The national statistics agency (DANE) reported that in May 2026 food prices were essentially unchanged year‑on‑year, registering a –0.02% variation. Prices of legumes fell about 3% since January, and several cities saw notable drops—tomatoes in Medellín fell 25%, bananas in Riohacha 2.43%, and pork 0.7%. Overall inflation stood at 5.8% annual, with Caribbean cities such as Barranquilla and Valledupar posting rates below 5%. The report also highlighted a decline in food insecurity, with the share of households experiencing moderate or severe insecurity falling from 25.5% in 2024 to 21.1% in 2025, reducing the number of severely affected households by roughly four million.