Consumer prices of Lima Metropolitan area reported a slight increase of 0.02% in September 2023

The National Institute of Statistics and Informatics (INEI) announced that, in the month of September 2023, the Consumer Price of Lima Metropolitan area increased 0.02% with a cumulative variation at the ninth month of the year of 3.32% and that of the last twelve months (October 2022-September 2023) of 5.04%.

 

According to the technical report Variation of the Price Indicators of the Economy, the monthly result was mainly influenced by the increase recorded in the consumer divisions: Transportation (0.56%); Restaurants and Hotels (0.43%); Goods and Miscellaneous Services (0.32%); Alcoholic Beverages, Tobacco and Narcotics (0.22%); Health (0.17%); Accommodation, Water, Electricity and Gas (0.12%); Furniture, Household Items andRoutine Household Maintenance (0.12%), Clothing items and Footwear (0.11%); Recreation and Culture (0.02%) and Education (0.01%). On the other hand, Food and Non-alcoholic Beverage (-0.68%) and Communications (-0.05%) prices decreased.

 

The increase in prices registered in Transportation responds to the higher prices of fuel for vehicles (4.3%) as liquefied gas of vehicle oil (13.3%), diesel oil (4.2%), gasohol (3.9%) and vehicle natural gas (0.2%); likewise, domestic airfare (3.8%) and local transportation (0.6%) as the taxi fare (1.8%) and moto-taxi fare (1.7%). Meanwhile, interprovincial bus fare prices (-6.9%), international airfare (-1.4%) and vehicle acquisition (-0.7%) such as motorcycle (-0.8%) and new cars (-0.7%) decreased.

 

The price reduction in Food and Non-Alcoholic Beverages is due to lower prices of fishes and seafood (-7.8%) such as the Parrot (-25.0%), horse mackerel (-14.1%), Bonito fish (-13.8%), Lisa fish (-6.4%), hake (-5.2%) and trout (-2.5%); also decreased the prices of vegetables, legumes including potatoes and other tubers (-5.1%) as celery (-26.5%), red-headed onion (-21.7%), spinach (-18,8%), lettuce (-16.1%), broccoli (-9.7%), carrot (-6.6%), yucca (-6.6%), fresh fava bean (-6.5%), corn (-6.1%), tomato (-5.5%), beet (-5.3%), yellow sweet potato (-4.1%) and white potato (-1.9%). 

 

Likewise, it decreased the prices of meat (-3.9%) as eviscerated chicken (-8.9%), chicken cuts: wings (-7.9%), leg (-6.3%), breast (-5.8%) and chicken innards (-5.9%); and pork cuts: chop (-2.1%), pancetta (-1.5%), leg (-0.8%) and rib (-0.6%); also, oils and fats (-0.6%) as packaged vegetable oil (-0.8%); and milk, cheese and eggs (-0.3%) where the product chicken eggs showed a decrease in the prices (-2.3%).

 

While, it increased the fruit prices (7.8%) such as lemon (64.6%), strong avocado (12.7%), white grape (8.7%), black grape (4.1%), passion fruit (6.0%), Israel apple (2.9%), imported apple (2.6%), Delicia apple (1.9%) and mandarin orange (1.5%). In addition, it increased the prices of other food products (1.8%) such as basil (12.9%), ground yellow pepper (9.9%) and ground rocket pepper (7.7%). Likewise, it increased the prices of sugar, jam, honey, chocolate and sugar candy (1.0%) as well as brown sugar (2.0%) and white sugar (1.6%); and bread and cereals (0.9%) as packaged oatmeal (8.3%), bulk rice (2.1%), unprepared wheat flour (2.0%), packaged rice (1.7%), sweet cookies (1.5%), salty cookies (1.4%) and coated cookies (1.1%). 

In Restaurants and Hotels increased beverage service prices in restaurants and similar venues (0.5%) such as hot drinks (0.9%), smoothed fruit juice (0.7%), carbonated beverages (0.5%) and beer served (0.4%); and food service in restaurants and similar venues (0.4%) as breakfast in restaurants (1.2%), Breaded chicken (0.6%), sandwiches (0,5%), Chaufa rice (0.5%), Creole and regional dishes (0.5%), chicken broth (0.5%), marine dishes (0.5%), ceviche (0.5%), menu in restaurants (0.4%), grilled chicken (0.3%) and Broaster chicken (0.3%). 

 

In the Accommodation, Water, Electricity, Gas and Other Fuels division, domestic propane gas prices (1.4%) and residential natural gas consumption (0.2%) increased due to the new tariff specifications in force as of September 1, 2023. On the other hand, the price of residential electricity consumption (-0.2%) was reduced by the tariff specifications since September 4, 2023.

 

In Goods and Miscellaneous Services, hairdressing salons and personal care establishments (0.6%) reported an increase in prices, such as haircutting for men (0.8%), hair coloring (0.7%), and aesthetic hand and foot care (0.7%). In addition, the price of other personal care appliances, items and products increased (0.3%) such as bath soap (0.6%), baby toiletries (0.6%), men’s colony (0.6%), hair conditioners (0.9%), sanitary pads (0.5%), shampoo (0.5%) and toothpastes (0.5%).

 

In September of 2023, of the 586 products that make up the family basket, 315 increased in prices, 153 decreased and 118 maintained their prices. The products with the highest increase of prices were lemon (64.59%), yellow potato (21.12%), Chinese onion (17.57%), pickled yellow pepper (13.68%), liquefied petroleum gas (13.28%), basil (12.90%), strong avocado (12.69%) and ground yellow pepper (9.91%). While, the prices that showed a decrease were the celery (-26.47%), Parrot fish (-24.98%), red-headed onion (-21.70%), spinach (-18.77%), mango (-16.76%), lettuce (-16.06%), strawberry (-14.56%) and horse mackerel (-14.15%).

 

The price increase during the month of September of this year was mainly influenced by the increase in the price of lemon and yellow potatoes, menu in restaurants, as well as the taxi fare and gasohol that together contributed with 0.447 percentage points to the result of the month; attenuated by the lower prices in foods such as onions, chicken innards, Parrot fish, mango and chicken breast.

 

During the month of analysis, the variation in the Price Index of Lima Metropolitan area, without considering food and energy (underlying inflation) rose by 0.13%.

 

During the month of September of 2023, the Consumer Price Index at National level reported an increase of 0.06%, influenced by the divisions: Transportation (0.55%), Restaurants and Hotels (0.44%), Goods and Miscellaneous Services (0.26%), Health (0.22%), Furniture, Household Items (0.17%), Alcoholic Beverages and Tobacco (0.16%), Accommodation, Water, Electricity and Gas (0.15%), Clothing items and Footwear (0.13%), Recreation and Culture (0.04%) and Education (0.03%). On the other hand, Communications (-0.05%) and Foods and Non-alcoholic Beverages (-0.49%) prices decreased.

 

During the month of September 2023, eighteen of the twenty-six cities where the Consumer Price Index is calculated recorded an increase in prices. The greatest variations were observed in the cities of Puno and Iquitos (0.52% each one), Tumbes (0.49%), Chiclayo (0.47%), Chachapoyas (0.43%) and Tarapoto (0.41%). Meanwhile, the eight cities with decrease in prices were Pucallpa (-0.46%), Trujillo (-0.29%), Tacna (-0.24%), Huancavelica (-0.20%), Huánuco and Moquegua (-0.17% each), Piura (-0.04%) and Huancayo (-0.01%).

 

In September 2023, the Wholesale Prices Index at National Level increased 0.13%, due to the increase in prices that shown the imported goods (diesel oil, truck tires, synthetic fiber yarns, phosphate fertilizers, construction rods, lubricating oils, steel plates, polyester fiber, transport vehicles, cyanide, and front bulldozers). However, it decreased the prices of domestic livestock products (standing chicken, eggs, cattle: sheep, porcine and beef); agricultural products (onion, tomato, sweet potato, corn, yucca, banana and paddy rice); and fisheries products (Parrot fish, Bonito fish, Lisa fish, horse mackerel, mackerel, hake, Cabrilla fish and cabbage and Cachema fish). Meanwhile, it increased the prices of industrial goods prices such as diesel oil, industrial oil, and gasohol, liquefied petroleum gas (LPG), cookies: sweet, filled and salty, milled rice, sugar: brown and white, cotton fiber yarns and construction rods.

 

During the month under analysis, the Price Index of Machinery and Equipment in Lima Metropolitan area grew 0.81%, influenced by the positive change in the exchange rate that has impacted domestic capital goods upwards, as machinery and equipment for transportation such as bodies, moto-taxi and springs for automotive vehicle; machinery and equipment for the industry such as desk, shelves, transformers and electrical boards; other machinery and equipment such as fishing nets; machinery and equipment for agriculture such as peaks and lamps.

 

In addition, the prices of imported capital goods increased, mainly in machinery and equipment for transport (ship engines, motor vehicles for the transport of people and road tractor for semi-trailer); machinery and equipment for agriculture such as tractors and lamps; other machinery and equipment such as medical electrical appliances and single-phase electrical meters; and machinery and equipment for the industry such as loader blades, excavators, computers and laundry machines.

 

Finally, during the month of September 2023, the Price Index of Construction Materials in Lima Metropolitan area decreased by 0.12% due to the lower prices observed in six of the groups that make up this indicator: tiles and mosaics (wall and floor coatings); woods (clumped boards, screw and oak); bricks (woven brick for roof and King Kong). Similarly, binder prices (Portland Type I cement); electrical supplies (outlets, telephone facility cables, general-purpose flexible cables, and power cables); and concrete structures (fiber wavy sheets) were reduced. However, other supplies such as glass (hardened glass), aggregate (Concrete), plastic pipes and accessories (water tanks, PVC electrical accessories and PVC drain pipes) and the metal group (black wire, hot rolled steel pipes, LAC steel plates, nails and wire rod) showed a price increase.