Consumer Prices of Lima Metropolitan area increased 0.09% in November of 2024

The National Institute of Statistics and Informatic (INEI) informed that during the month of November of 2024, the Consumer Price Index of Lima Metropolitan area increased by 0.09%, with an accumulated variation of 1.86% between January and November, and an annualized rate (December 2023 - November 2024) of 2.27%.

In the technical report Variation of the Price Indicators of the Economy is specified that result of the month under analysis was based in the increase of prices in the consumption divisions, such as, Foods and Non-Alcoholic Beverages (0.03%), Accommodation, Water, Electricity, Gas and Other Fuels (0.47%), Restaurants and Hotels (0.11%), Alcoholic Beverages, Tobacco and Narcotics (0.07%), Furniture, Articles for Household and Routine Household Maintenance (0.10%), Recreation and Culture (0.42%), Education (0.08%), Goods and Different Services (0.26%) and Clothing Items and Footwear (0.03%).

On the other hand, decrease of prices were observed in the divisions of Transportation (-0.18%) and Health (-0.02%); meanwhile, the division of Communications did not show variation.

The greater prices observed in Foods and Beverages were due to the increase registered in fish and seafood (8.7%), such as Bonito fish (19.5%), Parrot fish (12,2%), horse mackerel (10.7%), mackerel (10.0%) and hake (8.0%). In addition, in other food products (1.4%), such as chili ground pepper (28.8%) and hydrated dressings (10.0%). The same trend had the fruits (0.7%), such as mandarin (13.4%), strong avocado (13.1%), passion fruit (9.2%), Island banana (5.4%), table orange (5.3%), white (4.8%) and black (3.1%) grapes and papaya (2.4%). In addition, the prices of meat (0.5%), such as breaded chicken (1.9%), chicken innards (1.1%), and chicken cuts: wings (1.5%), breast (0.8%) and leg (0.4%) increased.

In addition, there were registered an increase of prices in mineral waters, soft drinks, fruit and vegetable juices (0.5%), such as non-carbonated mineral water (0.9%), non-carbonated table water (0.8%) and gas beverages (0.3%). Likewise, it increased coffee, tea and cacao (0.2%), such as cocoa powder (0.9%); and sugar, jam, honey, chocolate and sugar sweets (0.2%), such as mass chocolate (1.5%) and white sugar (0.5%).

Meanwhile, the prices of foods such as vegetables, legumes including potato and other tubers (-3.9%) decreased, such as white (-11.7%), colored (-9.6%), yellow (-7.4%) potato, green fava beans (-10.3%), yellow sweet potato (-7.7%), whole garlic (-7.5%) and corn (-4.4%); oils and fats (-0.8%) such as olive oil (-3.3%); and vegetable oil (-0.5%).

The increase in the division Accommodation, Water, Electricity, Gas and Other Fuels mainly answered, to the increase of prices in the domestic gas (2.8%), consumption of residential electricity (0.9%), due to the new tariff sheet since 1 to 4 November of the current year; and consumption of residential natural gas (0.3%), due to the tariff sheet in force since November 1st of 2024.

In Restaurants and Hotels increased the prices of service of accommodation in hotels (0.9%), especially the hotel service (1.0%). Likewise, the price of beverage service in restaurants and similar facilities (0.2%) increased, such as beer poured (0.3%); and food service in restaurants and similar facilities (0.1%), such as Chaufa rice (0.5%), ceviche (0.3%) pork crackling (0.2%), breaded chicken (0.2%) and menu in restaurants (0.1%).

The reduction registered in the division Transportation based in the low prices of transportation of passengers by air (-2.7%), such as national (-5.1%) and international (-1,9%) air ticket; of the interprovincial omnibus ticket (-1.0%) and lower prices of fuels for vehicles (-0.4%) such as, diesel oil, (-0.9%) and gasohol (-0,6%). Meanwhile, the increasing of prices was reported in liquefied gas of vehicular oil (3.0%).

During the month of November of 2024, from the 586 products that are part of the family basket, 279 increased their price, 125 decreased and 182 kept their prices. The products that registered the highest increases were: chili ground pepper (28.78%), Bonito fish (19.46%), mandarin (13.41%), strong avocado (13.06%), Parrot fish (12.23%), horse mackerel (10.71%), mackerel (10.00%) and passion fruit (9.21%).

On the other hand, the products that decreased their prices in greater measure were: mango (-21.43%), cucumber (-15.03%), blueberries (-12.98%), Israel apple (-12.48%), white potato (-11.71%), green fava bean (-10.33%), colored potato (-9.61%), yellow sweet potato (-7.67%), whole garlic (-7.52%), and yellow potato (-7.44%).

During the month of November, the variation of consumer prices was mainly influenced by the greater prices in some foods such as Bonito fish, mandarin, strong avocado, as well as residential electricity and domestic gas, that together contributed with 0.162 percentage points to the result of the month. This increases were dimmed by the decrease of prices in white and yellow potato, chicken eggs, mango and Israel apple.

During the month of November of 2024, the variation of the Consumer Price Index in Lima Metropolitan area, without considering foods and energy (underlying inflation) registered a slight growth of 0.06%.

During the month of November of 2024, the Consumer Price Index at National Level increased by 0.07%, accumulated between January and November a variation of 1.75%, meanwhile that the annualized rate (December 2023 – November 2024) reached 2.06%.

The increase of prices at national level answers to the increase registered in the divisions of consumption such as Accommodation, Water, Electricity and Gas (0.48%), Recreation and Culture (0.31%), Goods and Different Services (0.25%), Restaurants and Hotels (0.14%), Alcoholic Beverage and Tobacco (0.13%), Clothing Items and Footwear (0.08%), Education (0.06%), and Furniture, Articles for Household and Routine Household Maintenance (0.06%) and Health (0.03%). On the other hand, the prices in the divisions of Foods and Non-Alcoholic Beverages (-0.13%), Transportation (-0.10%) and Communications (-0.01%).

During the month of November of 2024, of the 26 cities where the Consumer Price Index is calculated, 14 cities registered an increase of prices.

The highest variations were observed in Puno (0.38%), Ica (0.29%), Tacna (0.29%), Arequipa (0.15%) and Cuzco (0.15%). Meanwhile, the cities that registered reductions of prices were Huaraz (-0.35%), Huánuco (-0.29%), Chimbote (-0.29%), Tumbes (-0.22%) and Cajamarca (-0.20%).

During the month under analysis, the Wholesale Price Index increased 0.32% due to the higher prices that showed the domestic goods; manufactured (nails, general use cables, yarn from cotton fibers, metal containers, liquefied petroleum gas, chicken meat, milled rice and grated canned fish); livestock (pig farming, live chicken and beef cattle); and fishing (Bonito fish, squid, Parrot fish, mackerel and horse mackerel). On the other hand, the prices of the agricultural products (green fava bean, garlic, sweet potato, ground corn, potato and onion).

In addition, it increased the prices of imported goods of the manufacture (photocopying machines, PVC resins, steel sheets, fertilizers: phosphated and nitrogenated, lubricating oils, mobile telephones, diesel oil, front bulldozing and vehicles for transportation); and agricultural (apples, not carded cotton, wheat, hard yellow corn and trigo, not roasted malt).

During the month under analysis, the Price Index of Machinery and Equipment increased by 0.64%, driven by the increase of capital goods imported such as other machinery and equipment for the industry (machines for laundry, desktop computers, bulldozers and wheel loaders); agricultural machines (tractors and pickaxes); and transportation (pick-up trucks, automotive vehicles for the transportation of persons and oil filters). Nevertheless, the prices of other machinery (single-phase meter and photographic cameras).

Likewise, the prices of domestic capital goods, such as machinery and equipment for transportation (radiators for automotive vehicles, car bodies and moto-taxi); industry (industrial fans, metal tanks, transformers and electric boards); other machine, (nets for a catch and lift trucks); and agricultural machine (birdbaths).

During November of 2024, the Price Index of Construction Materials of Lima Metropolitan area decreased 0.04%, due to the low prices registered in six of the ten groups that are part of this indicator. Then, it registered a decrease in prices the following items: tiles and mosaics (wall and floor coatings); bricks (for roof, pastry brick and Pandereta brick); power supplies (energy cables); woods (chipboards, Oaktree and Tornillo wood); aggregates (stone, sand and concrete); and agglomerants (Portland cement type I).

On the other hand, it increased the prices in the following groups: glasses (template and primary glasses); tubes and plastic accessories (water tanks, PVC tubes: electricity and water); metallics (black wire, nails, LAF steel sheets and LAC steel tubes) alambre negro; and concrete structures (corrugated fiber sheets).