In January Consumer Prices in Metropolitan Lima increased 0.23%

The National Institute of Statistics and Informatics (INEI) informed that during the first month of 2023, the Consumer Price Index in Metropolitan Lima increased 0.23%, with an annual variation (February 2022-January 2023) of 8.66%.

It is important to note that according to the calculation methodology of the Consumer Price Index, the variation corresponds to the monthly average price of each product.

In the technical report, Variation of the Price Indicators of the Economy specifies that in the monthly result contributed the increase of prices observed in the consumption sectors of Foods and Non-alcoholic Beverages (0.67%), Restaurants and Hotels (0.53%), Goods and Various Services (0.42%) and Recreation and Culture (0.34%). In lower measure, also increased the prices of Alcoholic Beverages, Tobacco and Narcotics (0.31%), Clothing Items and Footwear (0.27%), Health (0.26%), Furniture, Household equipment and Routine Household Maintenance (0.20%), Communications (0.18%) and Accommodation, Water, Electricity, Gas and Other Fuels (0.10%). On the other hand, Transportation sector reported a reduction of prices (-0.90%).

The increase of prices in Foods and Non-Alcoholic Beverages responds to greater prices observed in the group of vegetables, legumes, including potato and other tubers (7.7%), such as green peas (91.2%), green onions (30.2%), carrot (29.5%), ullucus (19.9%), corn (18.9%), Italian tomato (16.0%), broccoli (12.3%), lettuce (11.4%), Macre squash (8.9%), yellow sweet potato (6.8%), white potato (3.0%) and colored sweet potato (1.2%); as well as other food products (0.9%) such as ground Peruvian yellow pepper (4.4%), cilantro (4,1%), ground Rocoto pepper (2.8%) and soybean sauce (1.1%); bread and cereals (0.7%) such as dried Cancha corn (9.6%), dried noodles: short pasta (4.4%) and long pasta (1.9%); cookies: filled (2.9%), sweet (2.4%) and salty (2.2%) cookies and packaged oatmeal (1.7%). Likewise, it increased the prices of fruits (0.6%) such as mandarin (14.0%), strawberry (9.9%), mango (7.9%), table orange (7.1%), juice orange (6.6%), passion fruit (6.1%), Island banana (5.2%) papaya (3.7%), Huayco peach (3.2%) and sweet granadilla (2.6%); and in the sugar group, jam, honey, chocolate and sweets of sugar (0.3%) registered pushing up prices, personal ice-cream (2.3%) and personal popsicles (1.3%).

Meanwhile, it decreased the prices of fishes and seafood (-9.5%) Bonito fish (-23.0%), Parrot fish (-14.5%), Lisa fish (-12.9%), hake (-12.2%) and Tilapia fish (-4.5%); likewise, the meat (-0.9%) such as chicken giblets (-2.8%), chicken whole gutted (-2.0%), chicken cuts: breast (-1.9%), wings (-1.3%), leg (-0.5%) and chicken Milanese (-1.1%); and in the group milk, cheese and eggs (-0.8%) decreased the prices of chicken eggs (-2.6%) and fresh cow’s cheese (-1.5%).

In the division Restaurants and Hotels increased the prices of food service in restaurants and similar establishments (0.6%), due to the higher prices of ice-creams served (1.2%), Chifa plates (0.8%), lomo saltado (Peruvian Stir-Fried Beef) (0.7%), menu in restaurants (0.7%), salchipapa (French Fries with Hot Dogs) (0.7%), grilled meat (0.6%), Ceviche (0.6%), Chaufa rice (0.5%), pollo a la brasa (grilled chicken) (0.5%) and sandwiches (0.4%); and in the group services of beverages in restaurants and similar establishments (0.4%), it increased the prices of blended fruits juice (0.9%), natural juices (0.5%), beer served (0.3%) and sodas (0.3%).

In Goods and Different Services area is reported an increase of price in hairdressing salons and personal care establishments (0.6%) due to the increase in color-treated hair (0.8%), hair cut for women (0.7%) and man (0.5%), and hands and feet care service (0.6%). Also, it increased the prices of other devices, appliances and products for personal attention (0.5%) such as toothpastes (1.2%), toiletries for babies (1.0%), sunscreen (0.8%), disposable diapers (0.8%), toilet soap (0.8%), toilet paper (0.6%) and tooth brush (0.6%).

The reduction of prices in the division Transportation (-0.90%) responds to the lower prices observed in inter-province bus fare (-13.0%), transportation of passengers by air (-5.9%) due to the reduction in the domestic (-12.9%) and international (-3.8%) airline ticket. Likewise, the fuels and lubricants for the personal transportation equipment (-4.1%), such as liquefied petroleum gas for vehicles (-4.8%), gasohol (-4.6%), Diesel oil (-2.5%) and vehicular natural gas (-0.2%).

During the month of January of 2023, from the 586 products that are part of the family basket 378 registered increase of prices, 111 decrease and 97 did not showed variation. The products that reported a greater increase of prices were: green peas (91.22%), green onion (30.19%), carrot (29.49%), cauliflower (19.95%), ullucus (19.86%), corn (18.89%), Italian tomato (16.01%) and mandarin (13.98%). On the other hand, the products that registered prices decreased were: Bonito fish (-22.99%), Parrot fish (-14.54%), inter-province bus fare (-13.00%), domestic airline ticket (-12.87%), Lisa fish (-12.86%), pickle (-11.55%), white grape (-10.40%) and lemon (-9.44%).

The variation of prices in the month under analysis was mainly influenced, by the increase of prices of green peas, carrot, mandarin, Italian tomato and menu in restaurants, that together contribute with 0.280 percentage points to the result of the month; dimmed by the decrease of prices in some foods such as Bonito fish, chicken whole gutted and yellow potato, also reduced their price the gasohol and the inter-province bus fare.

In the month of January of 2023, the variation of Consumer Price Index of Metropolitan Lima, without considering the foods and energy (underlying inflation) increased slightly in 0.05%.

During the month under analysis, the Consumer Price Index at National Level increased 0.46% due to the increase observed in the divisions of consumption Foods and Non-Alcoholic Beverages (1.30%), Alcoholic Beverages and Tobacco (0.68%), Restaurants and Hotels (0.60%), Goods and Various Services (0.43%), Accommodation, Water, Electricity and Gas (0.29%), Recreation, Culture and Health (0.27% each one), Furniture, Household Equipment (0.26%), Clothing Items and Footwear (0.22%) and Communications (0.14%). Meanwhile, the division Transportation reported falling prices (-0.65%) and Education did not reported variation.

In the first month of the year, 24 out of 26 cities where it is calculated the Consumer Price Index registered an increase of prices. The highest variations were registered in Puerto Maldonado (6.13%), basically due to the increase of fuels for transportation and for the gas; Puno (2.96%), Moquegua (2.19%), Abancay (1.64%), Tacna (1.39%) and Cusco (1.25%).

In January of the current year, the Wholesale Price Index at national level increased 0.39% due to the increase of agriculture products (green peas, carrot, mandarin, ullucus, sweet potato, tomato, starchy maize, banana, avocado, potato, paddy rice and hard yellow corn); manufacturing (beer: black and white, construction rods, cables of general use, meat: turkey and chicken, Diesel oil, gasohol, noodles of long pasta, oatmeal and industrial wheat flour) dimmed by lower prices of agricultural products (eggs, ovine cattle and live chicken); and fishing (bonito, lisa, parrot fish, cachema and horse mackerel). On the other hand, it decreased the prices of the manufactured imported products such as resins: PVC and polyethylene, fertilizers: binary, phosphatic and nitrogenous, bond paper, polyester fiber, construction rods, crude soybean oil, carbon black, steel sheets; cotton not carded, wheat and hard yellow corn.

In the month under analysis, the Price Index of Machinery and Equipment in Metropolitan Lima increased 0.07% due to greater prices of capital goods of national origin, machinery and equipment for the industry (electric transformers, welding machines and metallic tanks); counterbalanced by low prices in machinery and transportation equipment moto-taxi, body-builders and springs por automotive vehicle; other machinery and equipment (wheelbarrows); and machinery and equipment for agriculture. Also, it increased the prices of capital goods of imported origin for agriculture (trucks) and the machinery and equipment for industry (Wheel loaders and dozers); on the contrary it decreased the prices of other machinery and equipment (electromedical equipment and accountants of electricity monophasic); and of machinery and equipment for transportation (road tractor for semi-trailer and automotive vehicles for transportation of personnel)

Finally, the INEI informed that the Price Index of Construction Materials in Metropolitan Lima increased in 1.62%, due to the increase of prices in binders (Portland cement type I and type V); and aggregates (concrete, stone and sand). Likewise, it increased the prices in electric supplies (energy cables, flexibles cables of general use, wires and cables for telephone installations); concrete structures; metallic (construction rods, wire rod and corrugated zinc plated sheets); bricks (tambourine, woven and for roof); and tiles and mosaics (coating for wall and for floor). On the other hand, it decreased the prices of flat glass (primary and secondary glass); woods (capirona, chipboards, oak and tornillo); and tubes and PVC plastic accessories: for electricity, water and sewerage.