January slope: why does everything go up at the beginning of the year?

January is not only the month that marks the beginning of a new year, but it is also the period that gives way to a series of increases in some items of Colombian spending. That is the reason why everything is perceived as much more expensive and finances feel harder hit.

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In economics, this phenomenon is known as the January slope, a seasonal effect that is experienced annually and is derived from the price adjustment generated by inflation, the increase in the minimum wage and other factors such as the excessive spending that comes with the December celebrations.

In other words, This is the set of increases in rates and fees that occur at the beginning of each year and that, in most cases, affect the purchasing capacity of consumers.

Transportation and mobility

In the case of this 2025, The first month of the calendar started with some increases in the transportation and mobility category, including fuel costs, tolls and Mandatory Traffic Accident Insurance (Soat) rates.

On January 1st, the adjustment to the diesel price (Acpm) was launched. In total, an increase of $169 was applied, which places the value of the gallon at $10,725. Regular gasoline also presented changes in its reference rate with an increase of $91, that is, the average cost of this fuel in the national territory was set at $16,085.

In the case of tolls, and as part of the Government’s strategy to normalize rates, the Ministry of Transportation reported that three increases will be made in 2025. The first of these materialized at the beginning of the year and is equal to 2.7%a figure that corresponds to 60% of the pending value to be applied for 2023 inflation. However, for private initiative routes, this pending readjustment was done in one go.

On the other hand, the Financial Superintendency of Colombia defined the new maximum Soat rates for this year. The entity reported that some of the maximum prices presented a reduction of 8.68%, in addition to maintaining the 50% discount in the differential range categories.

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(See: How Colombia is in financial inclusion compared to other countries in the region)

Health, contributions and other items

In health issues, the changes come to the moderating fees paid to the Health Provider Entities (EPS). The cost of these contributions is calculated based on the Basic Value Unit (UVB), which for this year increased by 5.49% compared to 2024 and was set at $11,552.

In that sense, this 2025, people who earn less than two minimum monthly salaries will have to pay $4,700, those who receive between two and five will have to make a contribution of $19,200, and those who earn more than five minimum salaries will pay $50,300.

Now, the items linked to the minimum wage will also be impacted. This 2025, it was defined, via decree, that This remuneration would have an adjustment of 9.5%, placing it at $1,423,500.

Among the services and benefits that will have increases include pension contributions, notary procedures, traffic fines and public transportation tickets.

However, in the latter case there are some exceptions, such as with the TransMilenio service. Starting January 18, the rate will increase 8.47%, going from $2,950 to $3,200. This value will apply to both trunk and zone buses, as well as to use TransMiCable.

According to the Mayor’s Office of Bogotá, This increase seeks to guarantee the sustainability of the system, meet operating costs and maintain the balance between supply and demand.

(More news: How gasoline prices were in January in the main cities)

Health

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(See: Diesel price rose $169: as of January 1st it will remain at $10,725)

Administration and rental fees

Added to this increase list is the administration fee, which covers common expenses in residential complexes. In this case, Those who define how much the increase will be is the owners’ meeting and co-owners, since in this way the budget can be adjusted to specific costs such as maintenance or improvement projects.

On the rental side, rental and occupied housing rates are regulated by the Consumer Price Index (CPI). In accordance with the regulations, the increase that is applied to the monthly price cannot be more than 100% of the previous year’s inflation figure to the one in which the readjustment will be carried out.

That is, in the case of 2025, the landlord will have to increase the rental value of his property, taking the CPI data from the previous year as a reference and will not be able to increase more than that percentage. This data, corresponding to 2024, will be announced on January 9.

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