Consumer Prices in Metropolitan Lima increased 8.46% during the year 2022

The National Institute of Statistics and Informatics (INEI) announced that, in the year 2022, the Consumer Price Index in Metropolitan Lima increased by 8.46%, a result that was higher than the variations recorded in the last 26 years (1996 reached 11.84%) as detailed in the technical report Variation of the Price Indicators of the Economy.

 

The result of the year was determined by the increase in the prices of the consumer divisions: Food and Non-alcoholic Beverages (15.21%) due to the increase observed in vegetables and tubers, eggs, sugar, bread and cereals, and other food products; Transportation (11.30%) due to higher fuel and lubricant prices, spare parts of vehicles, road transportation and local transportation service; Restaurants and Hotels (9.49%) for the menu price increase in restaurants, à la carte hot dishes and desserts and Accommodation, Water, Electricity, Gas and Other Fuels (4.23%) due to the increase in electricity and drinking water rates. It should be noted that these four divisions contributed 6.848 percentage points to the annual variation in prices.

 

The divisions of Goods and Miscellaneous Services (6.66%), Recreation and Culture (6.66%), Health (4.84%), Education (3.92%), Alcoholic Beverages, Tobacco and Narcotics (3.78%), Furniture, Household Equipment and Routine Household Maintenance (3.49%), Clothing Items and Footwear (2.46%) and Communications (1.44%) also registered growth in prices. 

 

In Food and Non-alcoholic Beverages, vegetables and legumes prices increased, including potatoes and other tubers (33.0%) such as Huayro (135.3%), yellow (130.4%), white (76.7%), color (66.7%) potatoes, yucca (35.2%), ullucus (32.2%), green pea (31.1%), spinach (26.7%), yellow sweet potato (24.0%), lentils (23.5%), green bean (22.0%), American garden bean (21.5%), pickle (21.0%), carrot (18.2%) and head onion (16.7%); also, milk, cheese and eggs (22.2%) due to the rise in chicken eggs (47.0%), powdered dairy food (28.7%), evaporated milk (18.0%), Paria cheese (16.9%), evaporated milk mixture (14.4%) and yogurt (11.8%). Also, the prices of some products in the sugar group increased, jam, honey, chocolate and sugar candy (21.9%) such as brown (33.3%) and white (27.1%), sugar, personal ice-cream (25.4%), tablet chocolate (16.1%) and personal popsicle (14.8%); fruits (16.8%) such as passion fruit (67.6%), lemon (65.0%), white grape (34.0%), imported apple (20.2%), Delicia apple (18.6%), Israel apple (17.9%), Inguiri green banana (18.4%), Island banana (16,8%), Seda banana (12.9%), Strong avocado (16.8%), pineapple (16.5%), sweet granadilla (16.1%), watermelon (12.2%) and papaya (7.3%); other food products (16.0%) such as foods in cubes (68.0%), ground red Rocoto pepper (32.7%), mayonnaise (30.7%), coriander (25.8%), soy bean sauce (23.3%), Peruvian ground yellow chili pepper (21.7%), Panca ground chili pepper (20.9%) and ground garlic (20.2%).

 

Similarly, bread and cereal prices rose (16.0%) such as long (56.7%) and short (39.2%) pasta dry noodles; toasts (48.3%), sliced bread (21.9%), ciabatta bread (18.5%), French bread (17.8%), sweet (29.3%), salty (16.1%) cookies,  sweet cakes (22.2%), unprepared wheat flour (21.7%), packaged oatmeal (17.5%), purple corn (16.5%), cake (12.6%) and panettone (12.1%); oils and fats (14.3%) such as packaged butter (25.4%), packaged margarine (19.5%) and packaged vegetable oil (11.2%); coffee, tea and cacao (11.3%) such as, ground roast coffee (18.5%), instant coffee (16.5%) and soluble roast barley (12.8%); fishes and seafood (8.1%) such as hake (30.1%), Bonito fish (16.8%), Liza fish (13.5%) and Corvina fish (13.4%); mineral waters, soft drinks, fruit and legume juices (5.6%) such as, packaged soda (11.4%), packaged fruit drink (8.2%), soft drinks (5,8%) and mineral and table waters (5.2%); and meats (3.7%) such as eviscerated turkey (14.0%), pork (10.7%), beef: ground beef (9.4%), stew meat (8.4%); and eviscerated chicken (7.3%); while eviscerated chicken (-1.8%) decreased.

 

In Transportation, the prices of spare parts and accessories for personal transport equipment increased (14.1%) such as new tires (25.0%); local transportation (13.5%) such as the bus and microbus fares (21.5%), combi (13.1%), moto-taxi (11.7%) and taxi (9.0%); fuels and lubricants for personal transport equipment (11.6%) such as, diesel oil (21.5%), engine oil (15.5%), gasohol (13.9%), vehicular natural gas (3.3%); vehicle acquisition (7.2%) as cars (7,4%); interprovincial bus fare (5,8%) and transportation of passengers by air (2.1%) such as international air fare (12.1%); while, decreased the price of liquefied petroleum gas (-22,7%). 

 

In the Restaurants and Hotels division, food service prices increased in restaurants and similar locations (10.1%) such as a Chaufa rice (16.1%), Chifa dishes (14.6%), grilled chicken (13.0%), desserts (13.0%), sweet cakes (11.8%), chicken broth (11.5%), menu in restaurants (11.3%), pork crackling (11.0%), marine dishes (9.5%), sandwiches (9.0%), grilled meat (8.5%), pizzas (7.9%), ceviche (6.7%) and Creole dishes (4,4%); and beverage service in restaurants and similar venues (7.7%) such as hot drinks (8.7%), natural soft drinks (8.3%),sodas (8.3%), smoothed fruit juice (8.0%) and beer served (7,2%). 

 

The increase in Goods and Miscellaneous Services is based on the higher prices reported by other devices and articles for personal care (8.6%) such as a bath soap (16.2%), toilet paper (13.9%), deodorants (13.9%), toothpastes (9.9%), toothbrush (8.8%), disposable diapers (8.7%), sanitary pads (8.7%), colony: women (7.3%), men (5.2%), shaving machines (6.8%) and shampoo (6.7%); and service in salons and personal care facilities (6.8%) such as hair dyes (8.6%), men’s (7.5%) and female (6.6%) haircut, and aesthetic hand and foot care (7.0%). 

 

In the Accommodation, Water, Electricity, Gas and other Fuels division, the prices of materials for the conservation, repair and security of the household (15.3%) such as painting (15.3%); residential electricity (11.5%), residential drinking water (7.9%) due to the rate adjustment of June 1 and September 1, 2022. Conversely, residential natural gas (-10.4%) and domestic propane gas (-9.2%) prices decreased.. 

 

In the year 2022, of the 586 products that make up the family basket, 534 increased in price, 35 decreased and 17 products reported no variation. The products with the highest increase were Huayro potato (135.29%), yellow potato (130.39%), white potato (76.72%), passion fruit (67.57%), color potato (66.67%), lemon (65.03%), long pasta dry noodles (56.71%) and chicken eggs (47.04%). Conversely, the products that recorded price reductions were liquefied petroleum gas (-22.70%), domestic air fare (-21.34%), Chinese onion (-16.54%), residential natural gas (-10.37%), horse mackerel (-9.36%), packaged domestic gas (-9.20%), mobile phone equipment (-6.52%) and mackerel (-5.38%). 

 

During the year 2022, the National Consumer Price Index grew 8.56% due to the price increase observed in all the consumer divisions that make up this indicator: Food and Non-Alcoholic Beverages (15.22%), Transportation (10.03%), Restaurants and Hotels (9.81%), Goods and Miscellaneous Services (6.84%), Recreation and Culture (6.12%), Alcoholic Beverages, Tobacco and Narcotics (5.00%), Furniture, Household Items and Household Conservation (4.79%), Health (4.67%), Clothing items and Footwear (4.05%), Education (3.84%), Accommodation, Water, Electricity, Gas and Other Fuels (3.82%) and Communications (1.44%). 

 

During the year 2022, the 26 cities where the Consumer Price Index is calculated reported price increases. The highest variations were reported in the cities of Cerro de Pasco (11.76%), Huaraz (11.40%) and Ica (10.71%). Meanwhile, the cities with the lowest annual variation were Chimbote (6.97%), Tumbes (6.90%) and Moyobamba (4.60%).

 

During the month of December 2022, Consumer Price Index in Metropolitan Lima increased by 0.79%, mainly explained by the higher prices observed, mainly in the consumer divisions: Food and Non-alcoholic Beverages (1.73%) for rising prices in vegetables and tubers such as white, yellow and Huayro potatoes, ullucus, green pea, carrot and some fruits like avocado, mandarine, sweet granadilla and papaya and other food products; attenuated by lower lemon prices, mango, passion fruit, chicken meat and fish such as horse mackerel and Bonito fish; Transportation (0.84%) due to greater demand for End of the year parties, on taxi fare, moto-taxi, interprovincial bus fare and air transportation fare; however, lower gasohol prices were reported, LPG for vehicles and Diesel; Recreation and Culture (0.80%) for the increase observed in the pay-TV service and pet food; Restaurants and Hotels (0,76%) due to increased of food and beverage service in restaurants, such as a menu, grilled chicken, sandwiches, desserts, Natural soft drinks and beer and Goods and Miscellaneous Services division (0,59%) due to the increase in prices in personal services such as haircuts for men and women, hair coloring and personal hygiene items, such as, cream and toothbrush, vanity soap, shampoo, deodorants.

 

Likewise, the prices of the Alcoholic Beverages, Tobacco and Narcotics divisions increased (0.58%), Communications (0.46%), Clothing items and Footwear (0.30%), Health (0.30%), Furniture, Household Items and Ordinary Household Conservation (0.22%); and Accommodation, Water, Electricity, Gas and Other Fuels (0.16%). 

 

The increase in prices in the Foods and Non-alcoholic Beverages division is supported by the increase observed in vegetables, legumes including potatoes and other tubers (8.0%) as green peas (27.4%), Huayro (25.0%), yellow (16.3%), white (14.8%), color (11.8%) potato, Chinese onion (19.4%), yucca (13.3%), celery (11.0%), ullucus (10.7%), yellow sweet potato (9.0%), carrot (6.8%), spinach (6.3%), American Garden bean (6.2%) and lettuce (4.6%); other food products (3.3%), such as a coriander (15.6%), ground garlic (11.1%), ground yellow pepper (6.4%), ground panca chili pepper (4.5%), parboiled beans (4.1%), whole cinnamon (2.9%) and hydrated dressings (2.1%); also, fruits (1.3%) such as strong avocado (13.3%), mandarine (12.8%), sweet granadilla (7.2%), orange juice (7.1%), papaya (6.0%), table orange (5.7%), Delicia apple (3.9%), Island banana (3.7%) and Seda banana (2.9%) and apple (3.3%); also, milk, cheese and eggs (1.0%) due to the increase in cow’s fresh cheese (3.9%), powdered dairy food (2.0%), fresh milk UHT (1.2%), whole milk yogurt (0.6%) and chicken eggs (0.5%); coffee, tea and cacao (0.7%) such as ground roast coffee (2.6%), soluble toasted barley (1.6%) and instant coffee (0.6%); bread and cereals (0.6%) such as Cancha dry corn (4.4%), cookies: sweets (3.5%), filled (1.2%), salty (1.0%), long pasta dry noodles (2.7%), packaged rice (2.4%), unprepared wheat flour (1.1%), cake (1.0%) and sliced bread (0.9%); meat (0.5%) such as eviscerated turkey (7.4%), pork (5.6%), sheep meat (2.1%), beef: ground (1.4%), stew meat (1.2%); however, the price of eviscerated chicken decreased (-1.1%), as well as chicken breast (-0.8%) and leg (-0.5%) cuts.

 

They also showed upward prices; sugar, jam, honey, chocolate and sugar candy (0.4%) as chocolate in tablet (3.1%), pasta (2.7%), personal popsicles (2.9%), jam (2.7%) and personal cream ice cream (1.6%); and oils and fats (0.1%) such as packaged butter (2.2%) and packaged margarine (0.9%). Conversely, fishes and seafood  (-0.8%) prices were reduced such as Lisa fish (-7.9%), mackerel (-5.7%), horse mackerel (-5.2%) Parrot fish (-1.9%) and Bonito fish (-1.3%). 

 

The increase in Transportation is based on the higher prices in the interprovincial bus fare (21.1%), air passenger transport (3.1%) such as domestic (7.5%) and international (1.9%) air fare; local transportation (1,2%) as a taxi fare (3.6%) and moto-taxi bike (2.7%); and vehicular natural gas (0.5%), while, reduced fuel and lubricant prices for personal transportation equipment (-4.9%) as gasohol (-5,9%), liquefied petroleum gas vehicle (-3.4%) and Diesel oil (-0.1%)

 

The variation of the Consumer Price Index in Metropolitan Lima, without considering food and energy (underlying inflation) in December 2022, reported an increase of 0.54%.

 

During the period January - December 2022, wholesale prices rose by 7.03%, due to the higher prices presented by domestic products; manufactured (Diesel oil, gasohol, solvents, waterborne paints, cement, polyester resins, construction rods, long pasta noodles, brown sugar, industrial wheat flour, oatmeal, sweet cookies, vegetable margarine, refined soybean oil); agricultural (potato, ullucus, sweet potato, lemon, mandarine, green bean, green pea, amylaceous corn, hard yellow corn and wheat) livestock (eggs, chicken standing, livestock: porcine, sheep and beef); and fishing (hake, cachema, mackerel, Lisa fish, Bonito fish, parrot fish, expert, Boquichico fish and trout). In addition, imported goods prices rose, with agricultural products (non-carded cotton and hard wheat); however, industrial products fell in price, including cyanide, polyester fibers, primary glass, PVC resins, steel plates, mobile phone, nitrogenous composts, vehicles for transportation and trucks.

 

During the month of December 2022, this indicator reported a reduction of 1.11%.

 

In the year 2022, the Machinery and Equipment Price Index, rose in 0.34% explained by the increase in the prices of domestic capital goods with 3.85%, mainly due to the variation of machinery and equipment for agriculture: bird nests, drinking fountains and spouts; machinery and equipment for the industry: propane balloons, shelves and electrical boards; Other machinery and equipment (cartridges) and machinery and equipment for transportation: motor vehicle springs and moto-taxi. Conversely, imported capital goods prices fell by -0,95%, affecting, among other factors, the dollar's price, agriculture machinery and equipment (tractors and lamps); Other machinery and equipment (microscope and miscellaneous electricity meters); transportation machinery and equipment: outboard engines, Motor vehicles for the transportation of people and pick-up trucks; and finally, machinery and equipment for the industry: telephone exchanges, excavators and valves.

 

In December 2022, this indicator decreased 1.10%.

 

In the year that ended, construction materials prices rose 4.77%, determined by the price increase in eight large groups of the indicator: plastic pipes and fittings (PVC electrical fittings, water and drain and PVC pipes: water, drain, Electricity); majolica tiles and mosaics (floor and wall coatings) binders (Portland Type V and Type I cement) woods (screw, capirone, cachimbo and crowded boards); aggregates (concrete, sand and stone); concrete structures (flat sheets of fiber and gypsum); glasses and metal (construction rods, wavy zinc sheet and wire rod). On the other hand, prices for electrical supplies (power cables and wires and cables for telephone installations) and bricks (for roof, wafer and king kong) dropped.     

 

During the month of December 2022, construction material prices fell by 0.16%.