Consumer prices of Lima Metropolitan area decreased 0.16% in November of 2023

The National Institute of Statistics and Informatics (INEI) informed that during the month of November of 2023, the Consumer Price Index of Lima Metropolitan area decreased by 0.16%; while the accumulated variation during the eleventh month of the year reached 2.82% and during the last twelve months (December 2022 – November 2023) was of 3.64%.

 

In the technical report Variation of Price Indicators of the Economy is indicated that the monthly result was determined mainly by the lower prices in the consumer divisions Foods and Non-Alcoholic Beverages(-1.19%), Transportation (-0.50%) and Communications (-0.06%). Nevertheless, the following consumer divisions reported increase of prices Accommodation, Water, Electricity, Gas and Other Fuels (1.24%), Restaurants and Hotels (0.26%), Goods and Miscellaneous Services (0.25%), Recreation and Culture (0.14%), Clothing Items and Footwear (0.12%), Furniture, Household Items and Ordinary Household Conservation (0.11%), Alcoholic Beverages, Tobacco and Narcotics (0.10%) and Health (0.07%); meanwhile, the division of Education did not register variation.

 

Among the Foods and Non-Alcoholic Beverages that decreased their price were the following fruits (-7.2%) such as lemon (-49.6%), regular apple (-14,6%), Israel apple (-13.1%), watermelon (-12.4%), mango (-6.9%), Delicia apple (-4.8%), papaya (-4.8%), pineapple (-3.6%), passion fruit (-2.8%) and silk banana (-1.1%); also, milk, cheese and eggs (-1.3%) outstanding the decrease in the price of the chicken eggs (-4.2%); vegetables, legumes including potato and other tubers (-1.1%) such as red head onion (-21.6%), green onion (-18.2%), tomato (-13.0%), beet (-10.7%), celery (-10.5%), Macre squash (-8.2%), leek(-6.5%), Peruvian yellow chill pepper (-4.5%), cauliflower (-3.4%), green beans (-2.7%) and chopped vegetables (-2.3%). Likewise, fishes and seafood (-0.6%) such as hake (-8.1%), mussels (-3.8%), Bonito fish (-2.2%), Parrot fish (-2.1%) and trout (-0.9%); and oils and fats (-0.3%), such as the packed vegetable oil (-0.5%). 

 

On the other hand, the prices of other food products (0.4%) such as grounded yellow chili pepper (7.9%), grounded red hot pepper (6.5%), gelatin to prepare (2.4%) and hydrated dressings (2.0%); also, meats such as eviscerated turkey (1.0%), chicken innards (0.9%), pork chops (0.6%), chicken breast (0.3%) and eviscerated chicken (0.2%); meanwhile the following items registered a decrease in prices, such as eviscerated hen (-2.2%), chicken leg (-1.6%), chicken wings (-0.8%) and meat for beef stew (-0.5%). In bread and cereals, the prices of whole quinoa (2.2%), salty cookies (1.0%), sweet cookies (0.9%), filled cookies (0.9%) and rice in bulk (0.5%). Nevertheless, the prices of purple corn (-3.4%), dry short pasta (-1.6%) and all-purpose wheat flour (-1.3%). 

 

In Transportation the prices of gasohol (-4.6%), the price of vehicle LPG (3.8%) and the domestic (6.9%) and the international (-2.0%) and the acquisition of vehicles (-0.2%) such as new automobiles (-0.2%). On the other hand, the prices of Diesel petroleum (3.9% and vehicular natural gas (1.4%). 

 

The increase of the prices in the division Accommodation, Water, Electricity, Gas and Other Fuels occurred because of the higher consumer prices of residential natural gas (5.9%) due to the new tariff specifications as of November 1 of 2023 and due to the residential electricity consumption (4.8%) due to the tariff specifications since November 1 and 4 of 2023. 

 

In Restaurants and Hotels, the prices of beverage service increased in restaurants and similar premises (0.4%) such as served beer (0.5%) and hot beverages (0.4%); and the food service in restaurants and similar premises (0.2%) such as sandwiches (0.8%), grilled meat (0.6%), Creole and Regional dishes (0.5%), breakfasts in restaurants (0.4%), Ceviche (0.4%), chicken stock (0.3%), menu in restaurants (0.2%) and grilled chicken (0.2%). 

 

In the division Goods and Miscellaneous Services increased the prices of other devices, articles and products for personal care (0.2%) such as sun block (1.0%), cologne for men (0.7%) and for women (0.6%), facial creams (0.6%), conditioners (0.4%), toilet soap (0.3%), deodorants (0.2%) and disposable diapers (0.2%). At the same time, the prices in the hairdressers and personal care establishments increase (0.2%) such as the man haircut (0.4%) and esthetic care of hands and feet (0.3%). 

 

In November of 2023, of the 586 products that are part of the family basket, 304 increased their prices, 152 decreased their prices and 130 did not showed variation. The products with a higher increase of prices were the corn (20.23%), Huayro potato (12.50%), strong potato (11.27%), carrot (10.62%), mandarin (9.78%), Lisa fish (9.14%), grounded Yellow Peruvian chili pepper (7.90%) and natural gas consumption (5.86%). 

 

Meanwhile a decrease of prices was registered in the following items lemon (-49.60%), red head onion (-21.56%), green onion (-18.17%), regular apple (-14.59%), basil (-13.13%), Israel apple (-13.10%), tomato (-12.97%) and watermelon (-12.37%).

 

The result of the month of November was influenced, mainly by the low prices of foods such as lemon, red head onion, hen eggs and tomato.  Likewise, the fuel for transportation (gasohol) that together contributed with -0.385 percentage points to the monthly variation; dimmed by the greater prices of residential electricity and foods such as corn, strong potato, mandarin and carrot. 

 

During the month under analysis the Consumer Price Index of Lima Metropolitan area, without considering foods and energy (underlying inflation).

 

During the month of November of 2023, the Consumer Price Index at national level decreased by 0.26% mainly due to the low prices in three of the consumer divisions: Foods and Non-Alcoholic Beverages (-1.39%), Transportation (-0.40%) and Communications (-0.04%). On the other hand, the divisions with an increase of prices were Accommodation, Water, Electricity and Gas (0.75%), Restaurants and Hotels (0.26%), Goods and Miscellaneous Services (0.23%), Recreation and Culture (0.18%), Health (0.16%), Alcoholic Beverages and Tobacco (0.15%), Furniture, and Household Goods (0.14%), Clothing Items and Footwear (0.11%) and Education (0.02%).

 

During the month under analysis, nineteen of the cities where the Consumer Price Index was calculated showed negative results. The lowest variations were registered in the cities of Tumbes (-1.33%), Chiclayo and Iquitos (-1.04%, each one). While, seven cities reported increase of prices, among them are Puerto Maldonado (0.45%), Moquegua (0.34%), Ayacucho and Puno (0.09% each one).

 

During November of 2023, the Wholesale Prices Index at national level decreased 0.93% due to the lower prices of the national manufactured products (gasohol, industrial oil and Diesel, LPG, petroleum liquefied gas, plastic bottles, PVC compound, cables for general purpose, swine meat, metal containers, knitted fabric, construction rods, soy refined oil, industrial wheat flour and knitted cotton fabric); agriculture (lemon, onion, sweet potato, tomato, fresh asparagus and yucca); livestock (eggs, cattle: sheep, meat and swine) and fishing (silver smelt, Cojinova fish, Cachema fish, horse mackerel Pejerrey fish, Cojinova fish, Cachema fish, horse mackerel, Lisa fish and Bonito fish). Likewise, the prices of imported goods drop (diesel oil, crude soy oil, binary fertilizers, loaders and front bulldozers, mobile telephone, soy cakes, cyanide, propylene resins, vehicles for transportation, Steel plates, hard yellow corn, malt not roasted and cotton not carded).

 

During the month under analysis, the Price Index of Machinery and Equipment in Lima Metropolitan area decreased by 0.92%, influenced by the variation of the Exchange rate that affected the prices in the capital goods of domestic origin, machinery and equipment for industry (transformers, bombs for liquids, electric boards and shelves); other machinery and equipment: nets for a catch, medical treatment chairs-couches, clinical beds, machinery and equipment for transportation: car bodywork, springs for automotive vehicle and fuel filters; and in the machinery and equipment for agriculture. 

 

Also, the prices of the capital goods of imported origin such as machinery and equipment for agriculture (tractors, shovels and picks); machinery and equipment for the industry: bulldozers, wheel loaders, industrial sewing single phase electricity meters, machine and computers; other machinery and equipment, such as electro medical devices and; machinery and equipment for transportation: motors for ships and road tractors for semi-trailer.

 

Finally, the INEI informed that during the month of November of 2023, the Price Index of Construction materials decreased by 0.65%, due to the drop in the prices in all the groups which are part of this indicator: metal, (wavy zinc plates, construction rods, nails, black wire and wire rod); bricks (pastry, king kong and roof);  electrical supplies (power cables, and general purpose flexible cables and cables for fixed installations);  woods (clumped boards, plywood, Tornillo wood and Cachimbo wood); aggregates (concrete and sand); tiles and mosaics (wall and floor coatings); glasses (tempered glass).

 

Likewise, the prices of concrete structures (plaster board plates and fiber panels and premix concrete); plastic tubing and accessories (water tanks, PVC tubes for water, PVC tubes and accessories for electricity; and binders.