Consumer prices of Lima Metropolitan area registered an increase of 0.02% in the first month of 2024

The National Institute of Statistics and Informatics (INEI) informed that during the month of January of the current year, the Consumer Price Index in Lima Metropolitan area increased 0.02%, with an annual variation (February 2023-January 2024) of 3.02%.

The result of the first month of the year answers, mainly, to the increase registered in the divison of: Restaurants and Hotels (0.25%), Alcoholic Beverages, Tobacco and Narcotics (0.59%), Clothing Items and Footwear (0.13%), Goods and Different Services (0.28%), Furniture, Household Items and Routine Household Maintenance (0.17%), Health (0.17%), Accommodation, Water, Electricity, Gas and Other Fuels (0.06%) and Recreation and Culture (0.02%). downward price showed the divisions of Foods and Non-Alcoholic Beverages (-0.02%), Transportation (-0.54%) and Communications (-0.01%). Meanwhile, in Education did not registered variation.

The reduction of prices that observed in Foods and Non-Alcoholic Beverages answers to the drop of prices of milk, cheese and eggs (-3.4%) outstood the chicken eggs (-10.8%). Similarly, the prices of fishes and seafood decreased (-2.9%) such as hake (-19.0%), mackerel (-11.9%), Bonito (-11.5%), Parrot fish (-3.9%) and Lisa fish (-2.9%); likewise, vegetables, legumes including potato and other tubers (-1.1%) such as corn (-18.3%), Peruvian yellow pepper (-12.9%), carrot (-9.3%), tomato (-8,6%), yellow potato (-6.9%), Huayro potato (-4.9%), yucca (-4.6%), yellow sweet potato (-2.3%) red head onion (-0.7%); and meats (-0.7%) such as whole gutted chicken (-6.2%), chicken innards (-1.7%), chicken cuts: wings (-2.2%), leg (-0,9%), breast (-0.5%) and eviscerated chicken (-1,0%).

Meanwhile, the prices of fruits increased (5.5%) such as sweet granadilla (22.9%), mandarin (21.3%), papaya (1.4%), pineapple (16.9%), strawberry (15.8%), mango (12.9%), lemon (9.4%), Huayco peach (8.0%), orange for juice (5.2%) and Seda banana (1.7%). Also, other food products increased their prices (2.3%) such as coriander (10.5%), grounded garlic (10.1%), hydrated dressings (9.2%) and Peruvian red chili pepper (6.7%); bread and cereal (0.5%) such as purple corn (10.4%), whole quinoa (1.9%), cookies: salty (1.6%), sweet (0.9%), filled (0.7%), packaged oatmeal (0.7%), rice in bulk (0.5%), packaged rice (0.4%) and sweet cakes (0.4%); likewise it also increase the prices of mineral waters, and soft drinks, fruit and legumes juices (0.4%) such as carbonated beverages (0.6%) and hydrating drinks (0.4%).

In Transportation it decreased the prices of inter-province omnibus fare (-6.3%), transportation of passengers by air (-4.5%) such as the national (-12.1%) and international (-1.3%) air ticket and the fuels for vehicles (-3.7%) such as gasohol (-4.2%) and Diesel petroleum (-3.6%). Meanwhile, the prices of natural gas for vehicles (0.7%) and liquefied petroleum gas (0.3%).

The increase of prices in Restaurants and Hotels is explained by the increase in the beverage service in restaurants and similar premises (0.4%) such as natural soft drinks (0.7%), mineral and table water (0.6%), served beer (0.4%) and carbonated beverages (0.2%); and food service in restaurants and similar premises (0.2%) such as desserts (1.1%), sandwiches (0.7%), Chaufa rice (0.6%), marine dishes (0.6%), Chifa dishes (0.6%), tamales (0.5%), chicken soup (0.3%), Creole and regional dishes (0.3%) and menu in restaurants (0.2%).

The increase in Alcoholic Beverages, Tobacco and Narcotics is supported in the higher prices registered in beer (0.9%) such as light (0.9%) and black (0.9%) beer, distilled beverages (0.4%) and cigarettes (0.3%).

In the division Goods and Different Services increased the prices of hairdressings salons and establishments of personal care (0.5%) such as hair cut for men (0.8%) and women (0.8%), esthetic care of hands and feet (0.6%) and hair dyes (0.3%). In other devices, articles and products for personal care (0.2%); it also increased the prices of women colognes (0.9%), deodorants (0.8%), talcum powder (0.7%), sanitary pads (0.5%), toiletries for babies (0,5%), toothbrush (0.5%), toilet soap (0.3%), sunscreen (0.3%) and toothpastes (0.2%).

During the month of January of 2024, of the 586 products that make up the family basket, 326 increase their price, 125 decreased and 135 products did not reported variation. Those that registered the highest increase were: green onion (79.96%), celery (28.63%), sweet granadilla (22.92%), mandarin (21.27%), papaya (17.36%), pineapple (16.90%), pickle (16.59%), strawberry (15.80%). On the other hand, the products with downturn prices were: hake (-18.98%), corn (-18.28%), strong avocado (-13.99%), Peruvian yellow pepper (-12.91%), domestic air ticket (-12.11%), mackerel (-11.92%), Bonito fish (-11.50%) and chicken eggs (-10.76%).

The variation of the Consumer Price Index during the month of January of the current year, was influenced, mainly, by the increase of prices in foods such as mandarin, papaya, strawberry, sweet granadilla and pineapple, that together contributed with 0.164 percentage points to the variation of the month; attenuated by the lower prices in chicken eggs, strong avocado, corn and Bonito fish; as well as the decrease of the prices of the gasohol.

The variation of the Consumer Price Index in Lima Metropolitan area, without considering foods and energy (underlying inflation) in January of 2024 reported an increase of 0.01%.

During the first month of 2024, the Consumer Price Index at National Level increased 0.01% and during the last twelve months reached 2.95%. This result answers to the increase reported in the consumption divisions: Alcoholic Beverages and Tobacco (0.46%), Restaurants and Hotels (0.28%), Goods and Different Services (0.24%), Furniture, Household Equipment (0.14%), Health (0.14%), Clothing Items and Footwear (0.09%), Foods and Non-Alcoholic Beverages (0.08%), Accommodation, Water, Electricity and Gas (0.07%), Recreation and Culture (0.06%) and Education (0.01%). Meanwhile, the prices of Transportation (-0.86%) and Communications (-0.01%) decreased.

During the month of January, fifteen cities where the Consumer Price Index calculated showed increase in their prices, of which, the highest variations were registered in Puerto Maldonado (0.60%), Moquegua (0.41%) and Tacna (0.25%). Meanwhile, eleven cities registered downturn prices, outstanding Chachapoyas (-0.41%), Moyobamba (-0.39%) and Huaraz (-0.38%).

During the first month of 2024, the Wholesale Price Index decreased 0.73%, due to the lower prices that registered the manufactured domestic products national (Diesel petroleum, gasohol, industrial petroleum, soy refined oil, industrial wheat flour, short pasta noodles, boxes: of plastic and cardboard, containers: of metal and plastic and cotton yarn); agriculture (avocado, tomato, apple, carrot, corn, potato, paddy rice and coffee in grain); livestock (eggs, live chicken and ovine cattle); and fishing (Bonito, mackerel, Cachema fish, Lisa fish, hake, Cojinova fish and Cabrilla fish). At the same time, the prices of manufactured imported goods (Steel sheets, Diesel petroleum, cyanide, desktop computers, construction rods, resins: of polyethylene and polypropylene, mobile phone, front-end loaders and vehicles for transportation) and agricultural (wheat, non-carded cotton and hard yellow corn).

During the month under analysis, the Machinery and Equipment Price Index decreased by 0.20%, due to the negative behavior of the dollar, that mainly influenced in the capital goods of imported origin, such as, machinery and equipment for industry: laptop, machinery for wash clothes, forklift, wheel loaders and industrial sewing machines; followed by machinery and equipment for agriculture: tractors and shovels; machinery and equipment for transportation: motors for boats, road tractor for semi-trailer and spares (manual gearboxes and oil filters); and other machinery and equipment (electro medical devices and electricity counters). Nevertheless, the prices of capital goods of national origin, outstanding in machinery and equipment for transportation: oil filters and in machinery and equipment for industry: transformers and cylinders; meanwhile, it showed a price reduction nets for a catch and pickaxes.

During January of 2024, the Price Index of Construction Materials in Lima Metropolitan area grew 0.84% after two consecutive months with negative results. This behavior was mainly characterized by the greater prices of binders (Portland cement type V and Type I), explained by the increase explained by the increase of the production cost; metallic (construction rods, wire road and LAF steel sheets). Likewise, the prices in concrete structures (ready-mix concrete) and power supplies (power cables and flexible cables for general use).

On the other hand, the prices of tiles and mosaics (floor and wall coverings), due to lower demand; bricks (pastry, pandereta, for roof and king king bricks); tubes and plastic accessories (PVC tubes: water, sewerage and PVC accessories for water and sewerage) In lower measure, the prices of glasses (tempered glass); aggregates (concrete); and woods (plywood, tornillo and cachimbo).