Consumer prices of Lima Metropolitan area increased 1.01% in March of 2024

The National Institute of Statistics and Informatics (INEI) informed that during the month of March of 2024, the Consumer Price Index in Lima Metropolitan area increased 1.01%, with an accumulated variation of 1.59% during the three first months of the year and of 3.05% during the last twelve months (April 2023 – March 2024).

 

In the technical report Change in the Price Indicators of the Economy, is explained that the monthly result was based in the increase of prices registered, mainly, in Education (4.20%), followed by Foods and Non- Alcoholic Beverages (1.70%), Alcoholic Beverages, Tobacco and Narcotics (0.26%), Clothing Items and Footwear (0.10%), Accommodation, Water, Electricity, Gas and Other Fuels (0.10%), Furniture, Household Items and Routine Household Maintenance (0.09%), Health (0.43%), Transportation (0.80%), Recreation and Culture (0,12%), Restaurants and Hotels (0.49%) and, Goods and Different Services (0.21%). It is worth to mention that the Communications division did not show variation.

 

The increase of prices registered in Education answers mainly to the greater prices of high school education (5.9%) specifically in the monthly payment of non-state education (6.4%) and expense in the enrollment process (2.7%); early childhood education and elementary education (5.7%), such as monthly payment of non-state education in la following levels: elementary (6.3%), early childhood (6.1%), expense in the enrollment process of non-state education in the following levels: early childhood (3.1%) and elementary (2.9%); tertiary education (3.4%), and expense in the enrollment process of undergraduate non-state university (4.2%), non-state superior institute (2.7%), monthly payment of undergraduate non-state university (3.8%) and non-state superior institute (2.9%). Likewise, the post-secondary education, non-tertiary (1.1%), such as the expense in the non-state CETPRO enrollment process (1.8%) and the monthly payment of productive technical education (1.1%). 

 

In the division of Foods and Non-Alcoholic Beverages, increases the prices of fishes and seafood (5.0%) such as the horse mackerel (19.2%), parrot fish (18.5%), hake (9.9%), mackerel (8.6%), Liza fish (3.6%), sea bass (3.2%) and Bonito fish (2.7%). In addition, it also increases the prices of the following items milk, cheese and eggs (3.6%), of which it outstood the increase in the price of chicken eggs (12.1%); vegetables, legumes, potatoes and other tubers (3.6%) such as celery (35.1%), onion head (33.2%), spinach (30.0%), American green beans (25.5%), lettuce (19.9%), tomato (12.6%), green peas (11.1%), broccoli (10.4%), beet (10.0%) and whole garlic (7.6%). Likewise, it increases the prices of meat (3.0%) such as eviscerated chicken (6.1%), chicken cuts: leg (5,1%), wings (5.0%), breast (4.3%), chicken innards (3.6%), breaded chicken (3.6%) and hen whole gutted (0.9%).

 

Likewise, it was observed the increase of price in other food products (1.5%) such as coriander (18.5%), grounded garlic (2.6%) and hydrated dressings (2.3%); and mineral water, soft drinks, fruit and legumes juices (0.7%), such as carbonated beverages (0.8%), still mineral water (0.8%) and energized beverages (0.8%). 

 

On the other hand, the prices of oils and fats decreased (-2.6%) outstanding vegetable oil (-4.7%); fruits (-1.0%) such as sweet granadilla (-14.5%), strong avocado (-13.1%), Israel apple (-5,5%), mandarin (-4.0%), papaya (-3.9%), silk banana (-2.4%), regular apple (-2.4%) and pineapple (-1.9%); and coffee, tea and cacao (-0.3%) such as chocolate flavor products (-0.7%) and instant coffee (-0.3%).

 

The increase of prices in Transportation is explained by the higher prices of fuels for vehicles (3.0%) such as Diesel petroleum (3.6%), gasohol (3.2%), liquefied petroleum gas for vehicles (1.4%) and vehicular natural gas (0.4%); transportation of passengers by air (1.2%) such as the international (1.6%) and national (0.3%) air ticket and transportation of passengers by road (0.8%) such as transportation to study centers (8.0%), inter-province omnibus ticket (2.0%) and moto taxi (1.9%). 

 

Meanwhile, it decreases the price of acquisition of vehicles (-0.3%) outstanding the lower prices of new automobiles (-0.4%). 

 

In Restaurants and Hotels increased the prices of food service in restaurants and similar facilities (0.5%) such as grilled meat (1.7%), served ice-creams (1.6%), anticucho (0.8%), salchipapa (French fries with fried hot dogs) (0.7%), menu in restaurants (0.6%), sandwiches (0.5%), chicken soup (0.5%), pollo a la brasa (grilled chicken) (0.3%) y ceviche (0.3%); and beverage service in restaurants and similar facilities (0.5%) such as natural juices (1.0%), mineral water and table water (0.9%), blended fruit juice (0.5%), served beer (0.5%) and carbonated beverages (0.3%). 

 

During the month of March of 2024, from the 586 products that are part of the family basket, 341 increase their price, 143 decreased and 102 products did not reported variation. Those that showed greater increase were: celery (35.14%), onion head (33.22%), spinach (30.02%), American green beans (25.54%), lettuce (19.90%), horse mackerel (19.23%), coriander (18.54%) and parrot fish (18.48%). 

 

On the other hand, the products that decrease their Price were: green onion (-19.06%), corn (-14.87%), sweet granadilla (-14.51%), strong avocado (-13.11%), Huayro potato (-9.73%), ullucus (-9.42%), grounded yellow pepper (-6.94%) and yellow potato (-6.33%).  

 

In the increase of the variation of the Consumer Price Index of the month of March 2024, mainly influenced the increase of prices in education expenses of school and non-state universities monthly payment, foods such as eviscerated chicken, chicken eggs and head onion, that together contributed with 0.607 percentage points to the variation of the month; attenuated by lower prices in strong avocado, corn, white and yellow potato and sweet granadilla.

 

During the third month of the year, the variation of the Consumer Price Index in Lima Metropolitan area, without considering foods and energy (underlaying inflation) registered a growth of 0.88%. 

 

During March of 2024, the National Consumer Price Index, increased in 0.94%, with an accumulated variation at the third month of the year of 1.37% and in the las twelve months (April 2023-March 2024) reached 2.67%. This result was based in the higher prices observed in the divisions of Education (3.91%), Foods and Non-Alcoholic Beverages (1.72%), Transportation (0.52%), Alcoholic Beverages and Tobacco (0.45%), Restaurants and Hotels (0.43%), Health (0.34%), Accommodation, Water, Electricity and Gas (0.23%), Goods and Different Services (0.19%), Clothing Items and Footwear (0.08%), Furniture, Household Items (0.07%) and Recreation and Culture (0.03%). Meanwhile, the division Communications reported a slight decrease (-0.02%).

 

During the month under analysis 25 of the 26 cities where the Consumer Price Index is calculated registered increase in prices. The highest variations were registered in Trujillo (1.28%), Huaraz (1.23%), Chimbote (1.22%) and Cerro de Pasco (1.21%). Meanwhile, just the city of Cajamarca showed downward prices (-0.21%).

 

During the month of March of 2024, the Wholesale Price Index decreased in 0.41% due to the lower prices that reported the imported goods, manufactured products (Diesel petroleum, crude soybean oil, lubricating oils, cyanide, bulldozers, power generators, construction rods, soy cakes, vehicles for transportation, carbon black and steel sheets); and agricultural products (hard yellow corn, wheat, un-toasted malt and lentils). 

 

Likewise, national goods in manufacturing (electro-welded tubes, Diesel petroleum, construction rods, cables: energy and general use, cotton yarn, salty cookies, soybean refined oil, PVC tubes and industrial wheat flour.

 

Meanwhile, increased priced were registered in agricultural goods (onion, tomato, sweet potato, paddy rice, banana, lemon, coffee in grain and hard yellow corn); livestock (eggs, live chicken, live hen, cattle: pig and ovine); and fishing (mackerel, Bonito fish, Parrot fish, horse mackerel, hake, Cabrilla fish, Cachema fish, Cojinova fish and trout).

 

During the third month of the year, the Machinery and Equipment Price Index decreased by 1.69, due to the lower prices registered in imported capital goods, outstanding other machinery and equipment: electromedical equipment and diverse electricity meters; followed by machinery and equipment for industry: valves, computer, wheel loaders, dumper truck and industrial sewing machines; machinery and equipment for transportation: motors for ships, automotive vehicles for personnel transportation, road tractor for semi-trailer and spares (oil filters and rings); and machinery and equipment for agriculture: tractors and shovels).

 

Likewise, the prices of capital goods of national origin decreased, in the division of machinery and equipment for transportation: car bodies, moto-taxi, springs for automotive vehicle and filters for fuels; also, in the division machinery and equipment for industry, such as transformers, metal tanks, welding machines and electric boards; other machinery and equipment: nets for a catch and wheelbarrows.

 

During March of 2024, the Price Index of Construction Materials in Lima Metropolitan area decreased in 0.42% due to the reduction of prices observed in five of the ten groups that are part of the indicator: glasses (tempered glass and primary); metallic such as, iron hot rolled tube, corrugated galvanized sheets, steel sheets, (LAF y LAC), wire rod and construction roads, affected by the lower quotation of exchange rate; power supplies (energy cables, wire and cables for fixed installations and  flexible conductors and cables of general use);  tubes and plastic accessories (water, sewerage and  electricity) and woods (plywood and Tornillo wood). 

 

On the other hand, it increased the prices of concrete structures (fiber sheets and corrugated fiber sheets, due to the greater demand); bricks (for roof and king kong bricks); construction aggregates, such as sand and concrete; in lower measure; increased the prices of tiles and mosaics and the group of binders.