Colombia
Data verified August 2026 · Sources
Colombia's $30,133 PPP-adjusted wage for 2024 holds 15.5% beneath its 2020 peak, the deepest gap in the OECD set, with consumer prices indexing at just 32.6.
Colombia at a Glance
1Y Change
+1.9%
5Y Change
−3.9%
10Y Change
+2.4%
Historical Peak
$35,659 2020
Change From Peak
−15.5%
Overall Price Level
32.6
Colombia’s Wage Story
Follow how PPP-adjusted average annual wages have changed in Colombia using constant-price OECD data.
USD PPP, constant prices · missing years shown as gaps, never interpolated
Ten Years Ago
$29,443 (2014)
Historical Peak
$35,659 2020
Latest Wage
$30,133 2024
Data Coverage
Wage history: 1995–2024
Reported observations: 21
Missing wage years: 1996, 1997, 1998, 1999, 2000, 2001, 2002, 2003, 2004
Latest price data: 2024 · 8 of 8 categories available
The Widest Peak Gap in This Set
Colombian wages show +2.4% over ten years, but the five-year figure is −3.9% and the latest-year change +1.9%. At $30,133 for 2024 the level is 15.5% below the 2020 peak of $35,659 — the widest peak gap in this set, reflecting the severity of the slide and the incompleteness of the recovery. The 2014 reading of $29,443 means the decade's net gain is small against that mid-decade collapse.
A Minimum Wage That Moves the Average
The national minimum wage in Colombia is economically influential beyond the workers directly paid at that rate, which means the +1.9% latest-year change partly reflects policy decisions about the floor. The −3.9% five-year figure shows the recent half-decade was dominated by decline, even as the latest year turned positive. Institutional context frames the reading; the series alone does not establish cause for any single year. That is why the latest upturn matters even at +1.9%: after a fall of that depth, every positive year re-establishes the direction before it can rebuild the level.
Two-Thirds Below the U.S. Price Line
Colombia posts a 2024 overall price level of 32.6 — 67.4 points beneath the US benchmark and one of the deepest discounts in the OECD. As an index standing it says nothing in pesos; it simply locates the country on the shared scale, next to but never inside the wage story. Colombia's wage record begins in 1995 and holds 21 reported years.
Colombia’s Everyday Price Profile
Compare eight consumer price categories in Colombia with the United States reference value of 100.
Overall
Food
Clothing
Housing
Health
Transport
Recreation
Restaurants & Accommodation
What Stands Out
Highest: Food
Food has the highest relative price level of the 8 reported categories in 2024, at 65.4 against the United States reference of 100. That is −34.6 index points from the benchmark and 5.0 points ahead of the next category, Clothing at 60.4.
Lowest: Health
Health is the lowest of the reported categories in 2024 at 18.6, −81.4 index points against the United States benchmark of 100. The spread between the highest and lowest reported categories is 46.8 index points, which shows how uneven the 2024 price profile is across categories.
Overall vs United States
The overall price level for 2024 is 32.6, below the United States benchmark (−67.4 index points). Looking across the profile, all 8 reported categories read below 100, so the overall figure summarizes a spread of category positions rather than a uniform level.
Compare Colombia
Choose another OECD economy to compare wages, historical changes and all eight consumer price categories.
Frequently Asked Questions About Colombia
What is the average annual wage in Colombia?
Colombia's 2024 average wage is $30,133. The level sits well below its 2020 peak.
How has the average wage changed in Colombia?
The decade change is +2.4%, but the five-year figure is -3.9% and the latest-year change +1.9%. The deep five-year decline shows the severity of the recent slide. Each horizon uses its exact target year.
What are consumer price levels like in Colombia?
Colombia's overall consumer price index is 32.6 for 2024, below the US at 100. That is a relative index standing, not a dollar amount or inflation rate.
How far is Colombia's wage from its peak?
Colombia's 2024 wage of $30,133 is 15.5% below the 2020 high of $35,659 — the widest gap in the OECD set. The +1.9% latest-year change shows recovery has begun but the distance remains large.