In Lima Metropolitan area, the consumer prices 0.32% in October of 2023

The National Institute of Statistics and Informatics (INEI) informed that during the month of October of 2023, the Consumer Price Index in Lima Metropolitan area reduced by 0.32% with an accumulated variation of 2.99% as of the tenth month of the year and an accumulated variation of 4.32% corresponding to the last twelve months (November 2022-october 2023).

In the technical report Variation of Price Indicators of the Economy is indicated that, the monthly result was determined, mainly, for the lower prices registered in the consumer divisions Foods and Non-alcoholic Beverages (-2.00%) and Communications (-0.03%), attenuated by the rise observed in Transportation (0.37%), Goods and Miscellaneous Services (0.37%), Restaurants and Hotels (0.36%), Accommodation, Water, Electricity, Gas and Other Fuels (0.31%), Alcoholic beverages, Tobacco and Narcotics (0.26%), Recreation and Culture (0.17%), Health (0.17%), Clothing Items and Footwear (0.09%) and Furniture, Household Items and Ordinary Household Conservation (0.06%). Meanwhile, the Education division showed no variation.

In Foods and Non-alcoholic Beverages, fruit prices (-10.9%) decreased, such as lemon (-46.4%), mango (-15.9%), regular apple (-14.4%), Israel apple (-13.8%), watermelon (-7.0%) passion fruit (-6.7%), papaya (-5.6%), white grape (-4.5%), pineapple (-3.7%), and sweet granadilla (-2.3%). The prices of vegetables, legumes, including potatoes and other tubers (-4.6%) also decreased such as red-headed onions (-39.9%), celery (-33.6%), spinach (-16.5%), lettuce (-16.4%), pickle (-15.8%), beet (-15.5%), cauliflower (-11.4%), broccoli (-10.3%), yellow sweet potato (-8.8%), Macre squash (-8.2%), green beans (-4.0%), and Peruvian yellow chill pepper (-3.7%). Likewise, downward prices showed milk, cheese and eggs (-1.3%) influenced by reduction of chicken eggs (-4.1%).

On the other hand, fishes and seafood prices (2.1%) increased such as horse mackerel (24.7%) and mackerel (11.7%); also meat (0.6%) as eviscerated chicken (1.4%), chicken cuts: breast (1.6%), leg (1.3%) and chicken giblets (1.0%); bread and cereals (0.6%) as whole quinoa (2.3%), packaged oatmeal (2.0%), bulk rice (1.8%), panettone (1.8%), cookies such as sweet cookies (1.8%), cream filled cookies (1.1%) and salty cookies(1.1%); and packaged rice (0.4%). Likewise, prices of sugar, jam, honey, chocolate and sugar candy (0.6%) increased, highlighting the increase in the price of white sugar (1.1%) and brown sugar (1.0%).

The increase in prices in Transportation was due to the increase recorded in diesel oil (4.1%), acquisition of vehicles (1.5%) such as new cars (1.6%) and new motorcycle (0.8%); passenger transport by air (1.3%) such as international (1.3%) and national (1.1%) airfare; likewise, the price of vehicle natural gas (0.5%) and the transport of passengers by road (0.3%) increased as well as moto-taxi (0.9%) and taxi (0.8%) fare.

Meanwhile, prices such as fuels for vehicles (-1.3%) as vehicle liquefied oil gas (-12.1%) and gasohol (-1.0%) decreased.

In Restaurants and Hotels, food service prices increased in restaurants and similar premises (0.4%) such as Chaufa rice (0.9%), Creole and regional dishes (0.9%), ceviche (0.8%), chicken broth (0.7%), tamales (0.7%), sweet cakes (0.7%), grilled chicken (0.4%), menu in restaurants (0.3%) and sandwiches (0.3%); and beverage service in restaurants and similar premises (0.3%) such as beer served (0.5%) and hot drinks (0.4%).

In the Accommodation, Water, Electricity, Gas and Other Fuels division, the prices of packaged domestic gas (1.5%), rented homes (0.4%) increased, which reported an increase in the price of apartment rentals in building (0.5%); and residential electricity consumption (0.1%) due to the new tariff specifications as of October 4, 2023.

In Goods and Miscellaneous Services reported prices increase in hair salons and personal care facilities (0.5%) such as a men’s haircut (0.7%), aesthetic hand and foot care (0.5%) and hair color (0.4%); and other appliances, personal care items and products (0.4%) such as a sunscreen (1.7%), colony for women (0.8%) deodorants (0.7%), colony for men (0.6%), bath soap (0.5%), toothpastes (0.5%), shampoo (0.4%), sanitary pads (0.4%) and toilet paper (0.2%).

In October 2023, of the 586 products that make up the family basket, 316 increased in prices, 149 decreased and 121 showed no variation. The products with the highest price increase were green onion (27.59%), corn (25.16%), horse mackerel (24.72%), strong avocado (21.51%), yellow potato (15.58%), Huayro potato (14.57%), ullucus (12.18%) and mackerel (11.73%).

Meanwhile, the products that presented downward prices including lemon (-46.37%), redheaded onion (-39.87%), celery (-33.57%), Parrotfish (-22.98%), spinach (-16.51%), lettuce (-16.39%), mango (-15.86%), and pickle (-15.85%).

The decrease in prices during the month of October of this year was mainly influenced by the reduction in prices of lemon, onion, chicken eggs, mango and celery that together contributed with the -0.661 percentage points to the variation of the month; attenuated by the higher prices in foods such as strong avocado, yellow potato, corn, horse mackerel and eviscerated chicken.

It should be noted that the decrease in prices of two products: lemon (-46.37%) and red-headed onion (-39.87%) contributed together with an incidence of -0.569 percentage points to the variation of October 2023.

During the month under analysis, the variation in the Consumer Price Index of Lima Metropolitan area, without considering food and energy (underlying inflation) rose by 0.22%.

In October 2023, the Consumer Price Index at national level decreased by 0.27% mainly due to lower prices in two consumer divisions: Foods and Non-Alcoholic Beverages (-1.73%) and Communications (-0.02%). While, Transportation (0.42%), Restaurants and Hotels (0.34%) and Goods and Miscellaneous Services (0.34%), Accommodation, Water, Electricity and Gas (0.33%), Health (0.21%), Alcoholic Beverages and Tobacco (0.21%), Furniture, Household Goods (0.15%), Recreation and Culture (0.13%) and Clothing Items and Footwear (0.09%) increased. The Education division maintained its prices.

During the tenth month of 2023, twenty cities where the Consumer Price Index is calculated recorded price declines. The lowest variations were observed in the cities of Piura (-0.64%), Cerro de Pasco (-0.53%), Tacna (-0.45%) and Huancavelica (-0.40%). While six cities exhibited positive behavior: Chachapoyas (0.33%), Ayacucho (0.10%), Pucallpa (0.09%), Puerto Maldonado (0.07%), Moyobamba (0.04%) and Cusco (0.02%).

In October of 2023, the Wholesale Price Index at national level rose 0.49%, due to the increase in imported manufactured goods (automobile tires, fertilizers: binary and phosphate, crude soybean oil, road tractors, cyanide, front-end loaders, power generator units, lubricating oils, Diesel oil, transportation vehicles, PVC resins, soy cake and carbon black), and domestic (industrial and Diesel oil, metal containers, power cables, cotton fiber yarns, polypropylene films, construction rods and evaporated milk).

Meanwhile, the prices of domestic products decreased, such as agricultural (onion, sweet potato, apple, garlic, wheat, yucca, and hard yellow corn); livestock (eggs, chicken standing, cattle: pork and sheep); fisheries products (Parrotfish, Cojinova fish, Cabrilla fish, Liza fish, Bonito fish and mackerel); and imported agriculture products (hard yellow corn, unroasted malt, and wheat).

During the month under analysis, the Price Index of Machinery and Equipment in Lima Metropolitan area grew 3.06%, influenced by the upside in the price of the dollar that registered the greatest impact on imported capital goods, such as machinery and equipment for transport (vehicles for transport of goods, semi-trailer and pick-up truck road tractor); machinery and equipment for the industry (dump trucks, loader blades, Industrial sewing machines and computers); agriculture machinery and equipment (tractors and lamps); and other machinery and equipment (electro-medical devices and single-phase electrical meters).

Prices of domestic capital goods also rose, explained by a greater variation in other machinery and equipment (medical treatment chairs-couches, clinical beds and fishing nets) followed by machinery and equipment for transport (bodywork, motor vehicle springs and moto-taxi) and machinery and equipment for the industry (electrical boards, transformers and shelves).

Finally, in the month of October 2023, the Price Index of Construction materials rose in 0.38%, due to the uptick in groups, such as glasses (tempered glass) metal, for higher prices on LAC and LAF steel plates, hot rolled steel tube, construction rods, wire rod and wavy zinc plates; plastic tubing and accessories, mainly of PVC (water, drainage and electricity) electrical supplies (switches, power cables and general purpose flexible cables) and binders (Portland Type I cement).

Meanwhile, the groups decreased in price: bricks (pastry, king kong and roof); concrete structures (premix concrete and wavy fiber sheets); woods (clumped boards, plywood, Tornillo wood and Cachimbo wood); tiles and mosaics (wall and floor coatings) and aggregates (concrete and stone).