In 2023 consumer prices of Lima Metropolitan area increased 3.24%

The National institute of Statistics and Informatics (INEI) informed that during the year 2023, the Consumer Price Index of Lima Metropolitan area increased 3.24%, result that reflects the continuous decreasing behavior since the month of March of the last year, according to the technical report Variation of Price Indicators of Economy.

 

The annual result was determined by the increase in the prices of the consumer business: Restaurants and Hotels (6.46%), Education (6.40%), Foods and Non-Alcoholic Beverages (3.74%), Goods and Different Services (4.26%), Alcoholic Beverages, Tobacco and Narcotics (3.61%), Recreation and Culture (3.46%), Clothing Items and Footwear (2.90%), Health (2.42%), Furniture, Household Items and Routine Household Maintenance (1.91%), Transportation (1.55%) and Communications (0.09%). On the other hand, downward price showed the divisions of Accommodation, Water, Electricity, Gas and Other Fuels (-1.89%). 

 

During the year 2023, the increase of prices in Foods and Non-Alcoholic Beverages was based in the higher prices registered in meat (7.9%) such as ground beef (12.3%), chicken innards (12.1%), meat for beef stew (11,4%), hen whole gutted (10.3%), beefsteak(9.6%), chicken whole gutted (8.8%) and chicken cuts: wings (8.5%), leg (7.6%) and breast (5.7%); other food products (6.6%) such as ginger (31.1%), grounded yellow pepper (20.8%), salt (14.9%), French fries (12.6%), plantain chips (11.9%), jelly to prepare (11.0%), pasta and tomato sauce (10.5%), foods in cubes (9.5%) and grounded aji panca (7.5%); bread and cereals (6.0%) such as dry Cancha corn (47.1%), packaged oat (16.3%), salted cookies (20.6%), sweets (15.8%), dipped (12,7%), salted pastries (10.2%); rice in bulk (9.5%), packaged (6.0%); and sweet pastries (6.0%). 

 

Also increased the prices of sugar, marmalade, honey, chocolate and sugar sweets (5.8%) such as brown (5.4%) and white  (4.6%) sugar, personal ice-cream (8.7%), bar of chocolate (4.2%) and personal frozen ice-cream (3.7%); fruits (5.1%) such as mango (50.1%), strawberry (39.2%), blueberries (23.4%), cucumber (22.2%), mandarin (21.2%), Israel Apple (16.2%), imported (15.9%), regular (13.3%), Delicia (11.7%), sweet granadilla (14.0%), Isla banana (12.1%), Huayco peach (11.9%), strong avocado (10.5%) and silk banana (9.0%); mineral water, soft drinks, fruit and legume juices (4.0%) such as still mineral water (10.0%), energy drinks (4.6%) and carbonated beverages (4.3%); milk, cheese and eggs (3.9%) such as condensed milk (15.2%), fresh pasteurized milk (11.4%), fresh cow cheese (7.3%), evaporated milk mix (6.3%), evaporated milk (3.8%) and chicken eggs (3.3%); and coffee, tea and cacao (2.5%) such as powder cocoa (9.2%), ground roasted coffee (5.1%) and instant coffee (2.9%).

 

On the other hand, the prices of fishes and seafood decreased (-10.5%) such as Bonito fish (-27.2%), Parrot fish (-24.0%), hake (-15.8%), tilapia fish (-10.6%) and Lisa fish (-7.8%); oils and fats (-3.0%) such as vegetable oil (-10.4%); and vegetables, legumes including potato and other tubers (-2.2%) such as yucca (-29.9%), pickle (-26.0%), yellow sweet potato (-22.6%), white potato (-27.2%), color (-20.9%), Huayro (-19.6%), yellow (-12.7%), lettuce (-10.9%), American green beans (-9.8%), green fava bean (-5.7%), green peas (-5.4%) and red head onions (-4.5%). 

 

In Restaurants and Hotels outstood the increase of the price in the food service in restaurants and similar facilities (6.6%) mainly in grilled meat (9.7%), Chaufa rice (9.6%), breakfast in restaurants (9.4%), deserts (9.0%), Creole dishes (8.3%), chicken soup (7.8%), sandwiches (7.4%), grilled chicken (7.4%), broths and regional soups (7.1%), Ceviche (7.0%), pork crackling (6.7%), Chifa plates (6.5%) and menu in restaurants (6.0%). Likewise, the prices of beverages service in restaurants and similar facilities increased (6.5%) such as hot drinks (9,2%), natural fruit juices (7.3%), blended fruit juice (6.6%), mineral water and table water (6.2%), and served beer (5.6%).

 

During the year 2023, the increase of prices in the division Transportation was based in the increase of domestic airline ticket (24.2%), vehicular natural gas (4.9%), local transportation (3.5%) such as mobility to study centers (10.6%), taxi fare (9.7%) and moto-taxi fare (6.9%). Meanwhile, the prices of fuels for vehicles decreased (-9.0%) such as Diesel oil (-10.3%), gasohol (-9.7%) and liquefied petrol gas for vehicle (-4.6%); fare in inter-province omnibus (-5.2%) and transportation of passengers by air (-1.4%) such as international air ticket (-9.1%). 

 

In Education grew the prices of high-school education (10.7%) in the expense in private high-school registration process (17.5%), private high-school teaching tuition (10.4%); preschool education and elementary education (10.3%) as well as the expense in private elementary (18.0%) and preschool (13.5%) registration process; private education tuition: preschool (10.3%) and elementary education (10.1%). At the same time, the prices of post high-school non-tertiary education tuition (4.0%) in the productive technical education tuition (4.2%); and the tertiary education (3.9%) in the expense in the registration process: private superior institute (12.2%), private undergraduate university (8.3%), tuition in private superior institute (9.4%) and private undergraduate university (2.4%). 

 

The reduction of prices registered in the area of Accommodation, Water, Electricity, Gas and Other Fuels in the year 2023 answers to the lower prices of residential electricity consumption (-7.1%) and domestic gas (-5.8%). Meanwhile, the prices of municipal excise tax increased (5.3%), consumption of residential natural gas (2.2%) and the consumption of residential potable water (1.3%) due to the new tariff system effective since January 1st of 2023.

 

During the year 2023, from the 586 products that make up the family basket, 490 increase their price, 78 decreased and 18 products reported no variation. Those that reported the greater increase were the following, corn (83.33%), mango (50.10%), Cancha dried corn (47.08%), ullucus (45.44%), strawberry (39.24%), cauliflower (29.78%), Peruvian yellow pepper (28.53%) and carrot (24.36%). Meanwhile, the products with downward prices were the following, lemon (-39.90%), yucca (-29.85%), white potato (-27.25%), Bonito (-27.23%), Parrot fish (-23.97%), yellow sweet potato (-22.58%), passion fruit (-22.40%), color potato (-20.88%). 

 

In the variation of the Consumer Price Index of Lima Metropolitan area for the year 2023 (3.24%), come into play the increase of the prices in menu in restaurants, whole gutted chicken and corn, as well as the taxi fare and private education tuition, that together contributed with 0.970 percentage points to the annual result; attenuated by the lower electric fares, decrease of prices in gasohol and some foods such white potato, lemon and Bonito fish.

 

In the year 2023, the Consumer Price Index at National Level increased 3.41% due to the increase of prices observed in the consumption areas of Foods and Non-Alcoholic Beverage (3.68%), Alcoholic Beverages, Tobacco and Narcotics (3.93%), Clothing Items and Footwear (3.03%), Furniture, Household Items and Household Maintenance (2.76%), Health (2.84%), Transportation (2.16%), Communications (0.04%), Recreation and Culture (2.99%), Education (6.46%), Restaurants and Hotels (6.81%) and Goods and Different Services (4.30%); meanwhile, downward prices reported the following areas Accommodation, Water, Electricity, Gas and Other Fuels (-2.48%). During December of 2023 this indicator increased 0.30%.

 

During the year 2023, 26 cities where the Consumer Price Index is calculated registered increase in prices. The highest variations were registered in the cities of Trujillo (5.34%), Chiclayo (4.74%), Arequipa (4.45%), Chachapoyas (4.39%), Ica (4.34%) and Tarapoto (4.33%). Meanwhile, the cities with annual variation lower to 2.0% were: Pucallpa (1.50%) and Iquitos (0.78%).

 

During the month of December of 2023, the Consumer Price Index of Lima Metropolitan area increased by 0.41%, explained mainly by the increase of prices in the consumption areas: Foods and Non-Alcoholic Beverages (0.79%), Transportation (1.12%), Restaurants and Hotels (0.25%), Alcoholic Beverages, Tobacco and Narcotics (0.23%), Goods and Different Services (0.18%), Clothing Items and Footwear (0.18%), Recreation and Culture (0.12%), Furniture, Household Items and Routine Household Maintenance (0.06%), Accommodation, Water, Electricity, Gas and Other Fuels (0.02%) and Communications (0.01%); meanwhile, the prices of the Health area decreased (-0.03%). Meanwhile, Education did not showed variation in their prices. 

 

The increase of prices in the Foods and Non-Alcoholic Beverages area during the month of December of 2023 was based in meat (6.5%) due to the greater prices of gutted chicken (15.1%), chicken cuts: wings (9.8%), leg (9.8%), breast (6.1%), chicken innards (7.2%), breaded chicken (4.5%); pork cuts: pork belly (4.6%), pork ribs (3.5%), legs (3.0%) and pork chop (1.7%); mineral water, soft drinks, fruits and vegetables juice (0.4%) such as carbonated beverages (0.5%) and non-carbonated table water (0.4%); sugar, marmalade, honey, chocolate and sweet candies (0.2%) such as personal ice-cream (0.9%) and family ice-cream (0.7%); bread and cereals (0.1%) such as quinoa in bulk (2.5%), cookies: covered (1.7%), sweet (1.4%), salty (0.9%), Moron wheat (1.1%), packaged rice (0.4%), in bulk (0.3%); and sweet cakes (0.4%). 

 

On the other hand, the prices of fishes and seafood decreased (-1.7%) such as horse mackerel (-16.9%), mackerel (-7.1%), Lisa (-3.0%) and tilapia fish (-1.1%); likewise, fruits (-1.4%) such as lemon (-16.7%), regular apple (-12.6%), white grape (-12.3%), watermelon (-11.4%), strong avocado (-8.5%), black grape (-5.3%), passion fruit (-2.7%), orange juice (-2.1%) and papaya (-1.7%). In addition, the prices of milk, cheese and eggs reduced (-1.3%) as well as the chicken eggs (-5.3%); other food products (-1.1%) as grounded Peruvian yellow pepper (-10.1%), grounded red hot pepper (-7.0%) and whole cinnamon (-5.2%); oils and fats (-0.9%), such as packaged butter (-1.2%) and packaged vegetable oil (-1.1%); and vegetables and legumes including potato and other tubers (-0.7%) such as tomato (-16.9%), sweet pepper (-16.7%), pickle (-11.3%), carrot (-9.9%), leek (-7.5%), Peruvian yellow pepper (-7.0%), Macre squash (-6.6%), red head onion (-6.2%) and chopped vegetables (-6.2%). 

 

The increase in Transportation during the last month of 2023, is based in the greater prices registered in interprovincial omnibus fare (18.2%), transportation of passengers by air (6.4%) such as the national air ticket (27.6%), local transportation (1.2%) such as taxi fare (3.4%) and moto-taxi (2.7%) and vehicular natural gas (1.0%). Meanwhile, the prices of fuels for vehicles decreased (-3.0%) such as the gasohol (-3.3%), Diesel petroleum (-2.4%) and petroleum liquefied gas for vehicles (-0.8%); and the acquisition of vehicles (-0.7%) such as new automobiles (-0.7%) and new motorcycle (-0.2%). 

 

The variation of the Consumer Price Index of Lima Metropolitan area, without considering foods and energy (underlying inflation) in December of 2023 reported an increase of 0.36%.

 

During the period January-December 2023, the wholesale prices decreased 1.04%, due to the lower prices of imported products, influenced by the variation of the exchange rate; among them, the manufactured (fertilizers: nitrogen fertilizers and NP fertilizers, soy crude oil, resins: PVC, polypropylene and polythene, polyester fibers, pneumatics for truck, construction rods, steel and cyanide sheets); and agricultural (hard yellow corn, not carded cotton, hard wheat and not roasted malt). 

 

Meanwhile, the prices of national agricultural goods (corn: starchy and corn, dried bean, avocado, carrot, mandarin, quinoa, green peas, paddy rice, banana, orange and tomato); livestock (hen and live chicken, eggs and beef cattle); nevertheless, the prices of manufactured goods decreased (electro welded tubes, PVC compounds, plastic sacks, PVC tubes, petroleum liquefied gas, yarns of cotton fibers, knitted fabrics, nails, construction rods, diesel petroleum, soy refined oil and industrial wheat flour); and fishing (Bonito, parrot fish, Cojinova fish, Lisa fish and  hake). During the month of December of 2023m this indicator reported a reduction of 0.72%.

 

During the year 2023, the Price Index of Machinery and Equipment grew 0.17% explained by the increase in the prices of the capital goods of national origin in 0.22%, influenced by machinery and equipment for industry: desktops, shelves, chairs, electric boards and transformers, machinery and equipment for agriculture: troughs and metallic nests for birds; also in machinery and equipment for transportation, oil filters, fuel filters and car bodies. Likewise, the prices of capital goods of imported origin increased in 0.15%, from which, the greater rate was registered in machinery and equipment for agriculture: tractors and peaks; machinery and equipment for transportation: vehicles for transportation of goods, pick-up trucks and spares (oil filters and air filters); and other machinery and equipment, mainly single-phase electricity meters. During the month of December of the year 2023, this indicator decreased 0.77%.

 

During the year 2023, the prices of construction materials reduced 1.39%, determined by the drop of prices in six big groups: bricks (pastry, king kong, for roof and pandereta brick); metallic (black wire, LAC and LAF steel sheets, nails and construction rods), tubes and plastic accessories (water tanks, PVC tubes for water, sewerage  electricity and PVC accessories for electricity) and PVC accessories for electricity); woods (chipboards, Tornillo wood and Capirona wood); tiles and mosaics (floor and wall coverings); and glasses (mild and primaries ). On the other hand, the prices of agglomerates increased (Portland cement type I and V); concrete structures (pre-mixed concrete and fiber flat plates); aggregates (sand, concrete and stone); and electric supplies (flexible cables of general use and for telephone facilities). During the month of December of the year 2023, the prices of construction materials reduced by 0.71%.