In 2024, consumer prices of Lima Metropolitan area increased 1.97%

The National Institute of Statistics and Informatic (INEI) informed that in 2024, the Consumer Price Index of Lima Metropolitan area reached 1.97%, with a monthly average rate of 0.16% according to the detailed in the technical report Variation of the Price Indicators of the Economy.

The annual result was determined by the increase observed in the consumer divisions of: Foods and Non-Alcoholic Beverages(0.06%), Alcoholic Beverages, Tobacco and Narcotics (2.98%), Clothing Items and Footwear (0.65%), Accommodation, Water, Electricity, Gas and Other Fuels (2.34%), Furniture, Articles for Household and Routine Household Maintenance (1.30%), Health (1.44%), Transportation (2.97%), Recreation and Culture (2.52%), Education (5.09%), Restaurants and Hotels (2.88%) and Goods and Different Services (2.59%). Meanwhile, it decreased the prices of Communications division (-0.09%).

The annual increase of the prices in Foods and Non-Alcoholic Beverages was mainly, due to the greater prices observed in other food products (9.3%) such as coriander (56.3%), ground garlic (44.5%), ginger (25.3%), concentrated seasonings (18.1%) and hydrated dressings (11.1%). Also, coffee, tea and cacao (4.0%) such as cocoa powder (39.6%) and chocolate products (12.8%); mineral water, soft drinks, fruits and legumes juices (3.8%) such as non-carbonated mineral water (5.6%), carbonated beverages (4.9%) and non-carbonated table water (3.2%).

Likewise, in 2024 it increased la prices of fish and seafood (3.1%), such as Parrot fish (51.4%), horse mackerel (20.5%), mackerel (16.3%) and Lisa fish (6.7%); meat (1.7%) such as cuts of pork: ribs (6.6%), bacon (6.2%), chop (3.9%) and pork loin (3.7%); eviscerated chicken (2.7%) and chicken cuts: breast (2.7%), leg (2.3%) and wings (2.1%). Likewise, it increases the prices of bread and cereals (1.4%) such as salted (9.4%), sweet (5.6%) and filled (3.6%) crackers; also, rice in bulk (6.4%) and packaged (5.6%); and the panettone (5.6%). Likewise, it increased the prices of some fruits, such as passion fruit (32.6%), mandarin (18.7%), lemon (15.7%) and white grape (10.7%); nevertheless, it decreased the prices of blueberries (-20.9%), strong avocado (-17.9%) and strawberry (-10.3%).

On the other hand, among the foods that decreased their price during 2024 were: oil and fats (-6.1%) such as the packaged vegetal oil (-14.4%); vegetables, legumes including potato and other tubers (-5.1%) such as corn (-42.0%), olluco (-35.9%), Escabeche yellow hot pepper (-31.6%), yellow (-30.4%), Huayro (-19.9%), colored (-13.8%) potato, carrot (-22.7%), green onion (-16.6%), cauliflower (-13.1%) and bell peppers (-11.6%). Likewise, the following items showed a decrease in prices: milk, cheese and eggs (-4.3%) where the chicken eggs registered a decrease in their price (-17.7%).

In the Restaurants and Hotels division it increased the prices of beverage and restaurants service and similar facilities (3.0%) such as the blended fruit juice (3.9%), beer poured (3.1%), natural juices (3.0%) and hot beverages (2.8%); also, the food service in restaurants and similar facilities (2.9%) such as desserts (5.1%), tamales (4.7%), grilled meat (4.2%), pork cracklings (4.0%), Chifa dishes (4.0%), breaded chicken (4.0%), breakfast in restaurants (3.9%), sandwiches (3.8%), marine dishes (3.2%) and menu in restaurants (2.6%).

The annual increase of the Transportation division was due to the increase in passenger transportation by road (3.9%) that reflected in the prices of inter-provincial omnibus fare (12.3%), moto-taxi (11.4%) and transportation to study centers (8.0%); likewise, the transportation of passengers by air (3.5%) such as the domestic airline ticket (6.8%) and international (2.1%). On the other hand, it decreased the prices of fuels for vehicles (-4.9%) such as Diesel petroleum (-8.0%) and gasohol (-5.8%); meanwhile, it increased the prices of liquefied petroleum gas for vehicle (6.3%) and natural gas vehicles (4.5%).

The increase in the prices of the Education division was mainly due to the increase in the secondary education (6.4%) such as the expense in secondary non-state enrollment process (8.5%) and non-state secondary education payment (6.4%); in the preschool education and primary education level (6.2%) grew the prices of the non-state enrollment process: early (8.7%) and primary (8.1%); and the non-state primary (6.3%) and early (6.1%) education payment.

Likewise, it increased the price of higher education (4.0%) such as the expense in the registration process in bachelor degree non-state university (6.4%); pension: non-state superior institute (5.4%) and in the bachelor degree non-state university (3.8%); upward prices registered the post-secondary education, non-higher education (3.7%) such as the expense in the registration process – non-state CETPRO (7.2%) and the pension of technical-productive education (3.5%).

In 2024, from the 586 products that are part of the family basket, 455 increased their price, 105 decreased their price and 26 products did not registered variation. Those that registered the greater increase were: black olives (56.93%), cilantro (56.31%), Parrot fish (51.41%), olive oil (48.57%), grounded garlic (44.53%), cocoa powder (39.60%), cucumber (35.61%) and passion fruit (32.56%). Meanwhile, the products with downward prices in greater proportion were: corn (-42.02%), olluco (-35.92%), mango (-34.87%), Escabeche yellow hot pepper (-31.59%), yellow potato (-30.36%), carrot (-22.68%), blueberries (-20.95%) and Huayro potato (-19.93%).

During 2024, the variation of the Consumer Price Index, was mainly influenced, due to the higher prices in the menu in restaurants, taxi fare, non-state university pension, domestic gas and y rates of potable water rates, that together contributed with 0.629 percentage points to the annual result. These increases were dimmed by the decrease of prices in foods such as chicken eggs, yellow potatoes, corn, strong avocado and mango.

In 2024, the Consumer Price Index at National Level grew 1.90% due to the increase of prices observed in the divisions of consumption: Foods and Non-Alcoholic Beverages (0.59%), Alcoholic Beverages, Tobacco and Narcotics (2.79%), Clothing Items and Footwear (0.86%), Accommodation, Water, Electricity, Gas and Other Fuels (2.79%), Furniture, Articles for Household and Routine Household Maintenance (0.90%), Health (1.69%), Transportation (1.83%), Recreation and Culture (1.89%), Education (4.89%), Restaurants and Hotels (2.83%) and Goods and Different Services (2.54%); meanwhile, downward prices were reported in the Communications (-0.22%) division. It is worth to mention that during the month of December of 2024 this indicator increased 0.14%.

During the year 2024, twenty-five cities where the Consumer Price Index is calculated, registered an increase of prices. The highest variations were observed in the cities of Tarapoto (3.09%), Ica (2.69%), Ayacucho (2.59%), Iquitos (2.45%), Huancayo (2.44%), Moyobamba (2.36%), Puerto Maldonado (2.29%) and Pucallpa (2.14%). During the last year, just the city of Huancavelica showed a negative result (-0.46%).

During the twelfth month of 2024, the Consumer Price Index at Lima Metropolitan area increased 0.11%, due to the greater prices registered in the Alcoholic Beverages, Tobacco and Narcotics (0.10%), Clothing Items and Footwear (0.02%), Accommodation, Water, Electricity, Gas and Other Fuels (0.03%), Furniture, Articles for Household and Routine Household Maintenance (0.12%), Health (0.01%), Transportation (1.38%), Recreation and Culture (0.48%), Education (0.01%), Restaurants and Hotels (0.19%) and Goods and Different services (0.25%) divisions. Meanwhile, the Communications division did not show variation; nevertheless, Foods and Non-Alcoholic Beverages registered prices downwards (-0.60%) during the las month of 2024.

The reduction of prices in Foods and Non-Alcoholic Beverages division was mainly based in the in the low prices of fishes and seafood (-14.8%) such as Bonito (-31.7%), jurel (-18.5%), Parrot fish (-13.7%), and mackerel (-8.3%); milk, cheese and eggs (-1.5%) such as chicken eggs (-6.2%); and vegetables, legumes including potatoes and other tubers (-0.9%) such as the yellow sweet potato (-14.7%), white (-10.8%), colored (-8.7%) and yellow (-4.9%) potato; green fava bean (-6.1%) and chopped vegetables (-3.3%).

On the other hand, the prices of fruits (1.6%), such as mandarin (15.7%), sweet granadilla (12.8%), table orange (11.0%), Island banana (5.9%), papaya (4.9%), Inguiri banana (3.8%), pineapple (2.9%), strawberry (2.7%), Silk banana (1.5%) and strong avocado (1.2%); also, other food products (1.4%) such as cilantro (48.7%) and albahaca (11.9%); coffee, tea and cacao (0.9%) such as chocolate products (2.3%) and grounded toasted coffee (1,5%). Likewise, bread and cereals (0.5%) such as the rice in bulk (1.7%), whole quinoa (1.2%), panettone (1.0%), packaged oatmeal (0.6%), sweet (0.5%) and filled (0.4%) cookies; likewise, it increased the following products: the meat (0.2%) such as pork cuts: bacon (4.7%), ribs (4.2%), chop (2.7%), leg (2.3%) and loin (1.7%); also, the chicken cuts such as wings (0.7%) and leg (0.6%); mineral waters, soft drinks, fruits and legumes juices (0.2%) such as carbonated beverages (0.4%).

The increase of prices in the Transportation division during the last month of 2024 was due to the increase observed in the transportation of passengers by air (9.2%) such as the domestic airline ticket (38.2%); transportation of passengers by road (1.5%) such as inter-province omnibus fare (29.9%), taxi (2.6%) and moto-taxi (1.0%); and Diesel petroleum (1.3%).

Meanwhile, it decreased the prices of fuels for vehicles (-0.6%) such as gasohol (-0.8%) and liquefied petroleum gas for vehicle (-0.1%).

The variation of the Consumer Price Index at Lima Metropolitan area without considering foods and energy (underlying inflation) in December of 2024 registered an increase of 0.40%.

During the last month of 2024, the Wholesale Price Index at National Level decreased 0.29% due to the lower prices of the national goods of the manufacturing area (construction rods, general use cables, chicken meat, cotton yarn, polypropylene film, gasohol, Diesel petroleum, brown sugar, canned fish in fillet and industrial wheat flour); fishing area (Bonito, Parrot fish, Cachema, hake, Lisa fish, Comber, horse mackerel, boquichico and trout); and agriculture area (potato, corn maize, lemon, sweet potato, carrot and starchy maize); nevertheless, the prices of livestock products (livestock: swine, ovine and cattle).

Likewise, the prices of imported products of the manufacturing area drop (pneumatics for truck, resins PVC, cyanide, nitrogen fertilizers, front-end loaders, vehicles for transportation, carbon black, Diesel petroleum and steel sheets); and agriculture area (wheat, malt, not roasted, and not-carded cotton).

In 2024, the Wholesale Price Index at National Level decreased 1.38%.

During the last month of the year, the Price Index of Machinery and Equipment reduced in 0.70% due to the low prices observed in the imported capital goods: other machinery and equipment (different electricity meters and electromedical equipment); machinery for transportation (vehicles for transportation of goods, road tractor for semi-trailer and oil filters); agricultural machinery (shovels and tractors); and the industrial machinery (sewing machines, wheel loaders and telephone exchanges).

Likewise, the prices of domestic capital goods: machinery and equipment for the industry (transformers, industrial fans and electric boards); other machinery and equipment (nets for a catch) and machinery and equipment for transportation (car bodies and springs for automotive vehicle); meanwhile, the machinery and equipment for agriculture did not showed variation.

During the year 2024, the Price Index of Machinery and Equipment increased by 1.88%.

During the month of December 2024, the Price Index of Construction Materials decreased 0.28% due to the drop of seven groups of the ten that make up the indicator: electric supplies (cables: for energy and general use); metallics (LAC steel tubes, LAF steel sheets, black wire and construction rods); glasses (basically templated glasses); concrete structures (ready-mix concrete); tiles and mosaics (coverings: wall and floor); woods (chipboards, capirona and plywood); and aggregates (stone and concrete). On the other hand, it was observed the increase of prices in binders (gypsum and Portland cement type I); tubes and plastic accessories (water tanks and PVC tubes for water); and bricks (for roof and King king bricks).

During the year 2024, this indicator showed an increase of 0.21%.