Consumer prices of Lima Metropolitan area increased by 0.38% in August of 2023

The National Institute of Statistics and Informatics (INEI) informed that during the month of August of 2023, Consumer Price Index of Lima Metropolitan area increased 0.38% with a cumulative variation of 3.30% and that of the last twelve months (September 2022- August 2023) of 5.58%.

In the technical report Variation of the Price Indicators of the Economy, specifies that the monthly result was influenced mainly by the increase registered in the consumption divisions: Foods and Non-Alcoholic Beverages (0.85%), Transportation (1.01%), Restaurants and Hotels (0.43%), Recreation and Culture (0.38%), Education (0.36%), Goods and Services (0.33%), Alcoholic Beverages, Tobacco and Narcotics (0.24%), Furniture, Household Items and Routine Household Maintenance (0.16%), Health (0.16%) and Clothing Items and Footwear (0.15%). On the other hand, Accommodation, Water, Electricity, Gas and Other Fuels (-1.09%) and Communications (-0.33%).

In Foods and Non-Alcoholic Beverages increased the prices of some fruits (5.9%) such as lemon (69.8%) that in the last three months reported an increase of 121.7%. In addition, it increased the price of regular Apple (23.2%), Israel apple (15.5%), strong avocado (15.9%), watermelon (13.6%), black grape (7.7%), white grape (6.4%) and cantaloupe (7.4%). Also, vegetables, legumes, potato and other tubers (3.5%) such as red onion (17.3%), carrot (14.0%), Macre Squash (10.5%), potato: Huayro (9.2%), yellow (8.3%), white (3.9%), color (2.5%); bell pepper (8.7%), fresh yellow pepper (6.4%) and corn maize (3.1%).

Likewise, it also increase their prices products such as sugar, marmalade, honey, chocolate and sugar candies (0.2%) such as brown sugar (0.3%); bread and cereals (0.2%) Cancha dry corn (4,5%), Purple corn (2.4%), salty cookies (2.1%), salty pies (1.6%), oatmeal in bulk (1.0%), bulk rice (0.8%) and Ciabatta bread (0.8%); also, in mineral waters, soft drinks, fruit juice and vegetable juice (0.1%) the prices increased in hydrating beverages (0.4%) and still mineral water (0.2%).

Meanwhile, it decreased the prices of meat (-1.9%) eviscerated chicken (-4.0%), chicken cuts: leg (-3.6%), breast (-3.2%) and wings (-1.0%), cuts of pork: ribs (-2.9%), leg (-2.2%), pork chop (-1.8%), pork belly (-1.5%) and pork loin (-1.2%). Likewise, it reduced the prices of oils and fats (-0.2%) such as the packaged vegetable oil (-1.0%); fishes and seafood (-0.1%) such as Lisa fish (-9.6%), hake (-3.7%), Parrot fish (-3.1%), mussels (-1.7%) and Bonito fish (-1.1%). Likewise, the prices decreased for the following products, milk, cheese and eggs (-0.1%) such as chicken eggs (-0.8%).

The increase of prices in Transportation is based in the higher prices of fuels for vehicles (9.1%) such as liquid petroleum gas intended for vehicles (26.5%), gasohol (9.0%) and Diesel fuel (3.2%), international air ticket (2.6%), purchase of vehicles (1.5%) due to the increase in the prices of new automobiles (1.6%) and motorcycle (0.5%), and other transportation services (1.2%) such as the taxis fares (1.4%) and moto-taxi (0.9%). While, it reduced the prices of domestic airline ticket (-9.4%) and inter-province omnibus travel fare (-6.4%).

In Restaurants and Hotels increased the prices of beverages services in restaurants and similar premises (0.5%) such as hot drinks (1.4%), fruit juice shakes (0.5%), carbonated drinks (0.5%) and served beer (0.3%), and food service in restaurants and similar premises (0.4%) such as sandwiches (1.0%), Creole foods (0.8%), grilled meats (0.7%), pork cracklings (0.7%), breaded chicken (0.7%), Chaufa rice (0.7%), breakfast in restaurants (0.5%), Broaster chicken (0.5%), grilled chicken (0.4%) and menu in restaurants (0.3%).

The decrease of prices observed in the Accommodation, Water, Electricity, Gas and Other Fuels division is explained by the lower prices that registered the residential electricity consumption (-4.4%) due to the tariff specifications in force as of August 4, 2023; domestic propane gas (-1.6%) and the consumption of gas by residential network (-0.7%) due to the new tariff specifications in force August 1 of this year. Meanwhile, the price of rented households increased (0.3%) due to the greater price of renting of department (0.4%).

In Goods and Miscellaneous Services increased the prices of hairdressing salon and establishments of personal care (0.4%) such as hair dyes (0.8%), haircuts for woman (0.6%) and man (0.2%). Likewise, it increased the price of other devices, articles and products for personal care (0.4%) such toiletries articles for babies (1.0%), toilet soap (0.9%), conditioners (0.9%), sanitary pads (0.7%), shampoo (0.6%) and deodorants (0.5%).

In the eighth month of 2023, of the 586 products that make up the family basket, 338 increased in prices, 128 decreased and 120 kept their prices. The products with higher increase of prices were lemon (69.84%), liquid petroleum gas intended for vehicle (26.46%), current apple (23.17%), red onion (17.26%), strong avocado (15.92%), Israel apple (15.51%), carrot (14.02%) and watermelon (13.64%). Meanwhile, the products with negative variation were strawberry (-25.87%), green onion (-18.68%), leek (-15.94%), broccoli (-14.94%), cauliflower (-13.92%), tomato (-11.69%), Lisa fish (-9.61%) and domestic airline ticket (-9.36%).

The Price increase during the month of August of this year was influenced, mainly, due to the greater prices of foods such as lemon, onion and strong avocado; as well as the gasohol and taxi fare that together contributed with 0.418 percentage points to the result of the month; attenuated by the lower prices in the service tariff of residential electricity, domestic airline ticket and foods such as eviscerated chicken, strawberry and tomato.

In August of 2023, the variation of Consumer Price index Lima Metropolitan area, without considering foods and energy (underlying inflation) increased 0.24%.

During the eighth month of this year, the Consumer Price Index at National level grew 0.40% due mainly, to the higher prices observed in the Foods and Non-Alcoholic Beverages (0.98%), Transportation (0.90%), Restaurants and Hotels (0.43%), Recreation and Culture (0.33%), Education (0.33%), Goods and Miscellaneous Services (0.31%), Health (0.22%), Furniture, Household Items, (0.20%), Clothing Items and Footwear (0.14%), Alcoholic Beverages and Tobacco (0.08%) divisions. On the other hand, the prices of Accommodation, Water, Electricity and Gas (-1.21%) and Communications (-0.33%) decreased.

During the month of August of 2023, twenty-five out of the twenty-six cities where the Consumer Price Index reported is calculated recorded price increases. The highest variations were observed in the cities of Huancavelica (0.88%), Chiclayo (0.87%), Tumbes (0.83%) and Huanuco (0.82%). Meanwhile, just the city of Pucallpa showed a negative result (-0.23%).

During August of 2023, the Wholesale Price Index at National Level grew 1.31%, with a cumulative variation of -0.01% and the annualized -0.18%, due to the increase of prices of national products, manufactured (Diesel fuel, gasohol, newspapers, metal containers, power cables, polypropylene films, construction rods, sweet cookies, chicken meat, evaporated milk and cotton yarn); and agricultural products (lemon, onion, apple, avocado, grape, garlic, mandarin, banana, starchy maize, carrot, potato and paddy rice). Nevertheless, it drop the prices of livestock assets (live chicken, pig farming and eggs); fishing products (Bonito fish, Parrotfish, Cabrilla fish, Lisa fish and Cachema fish). Meanwhile, it increased the prices of goods imported (Diesel fuel, automobile, trucks, generators, front loaders, transportation vehicles, tractors for semi-trailers, lube oils, mobile phone, carbon black, cyanide, apples, non-carded cotton, wheat and hard yellow corn).

During the month under analysis, Price Index of Machinery and Equipment in Lima Metropolitan area increased 1.72% with a cumulative variation of -1.93% and the annualized variation of -1.98%. This result was influenced by the variation of the exchange rate. In the capital goods of national origin, impact the increase of prices of the machinery and equipment for transportation such as car bodies, springs for automotive vehicles and moto-taxi; machinery and equipment for industry such as metal tanks, power transformers, electric boards and shelves; other machinery and equipment, mainly nets for a cash and machinery and equipment for agriculture such as pickaxes and shovels. Likewise, the most significant rate was observed in the capital goods of imported origin, outstanding the machinery and equipment for agriculture such as tractors, pickaxes and shovels, machinery and equipment for transportation, motors for ship, vehicle for the transportation of goods, spares (air filters); machinery and equipment for industry such as computers, loading shovels and dump truck; and finally, other machinery and equipment, electro-medic devices and single-phase electricity meters.

Finally, during the month of August of 2023, the Price Index of Construction Materials in Lima Metropolitan area increased by 0.14% with a cumulative variation of -0.29% and the annualized variation of -0.94%. This behavior was determined by the increase of prices of five of the ten groups that are part of these indicator, concrete structures (flat plates composed of fiber and corrugated plates), glasses (tempered glass and primary glass), power supplies (power cables and flexible cables for general use), metallic groups (hot rolled steel tubes, wavy zinc plates, steel plates: LAC and LAF, black wire and construction rods); and aggregates (stone, sand and concrete). Nevertheless, it decreased the prices of the groups: bricks (for roof, Pandereta bricks and woven bricks), ceramic tiles and mosaics (floor and wall coatings); tubes and plastic accessories (water tanks, PVC tubes (water, sewerage and electricity and PVC accessories for water and sewerage), woods (chipboards, Capirona wood, Tornillo wood and oak) binder (Portland cement type I).