In July of 2024 the consumer prices of Lima Metropolitan area increased 0.24%

The National Institute of Statistics and Informatics (INEI) informed that during the month of July of 2024, the Consumer Price Index of Lima Metropolitan area increased 0.24%, with an accumulated variation to the seventh month of 1.81%; and reached 2,13% in the period of last twelve months (August 2023 – July 2024).

In the technical report, the Variation of the Price Indicators of the Economy is stated that the monthly result is mainly based to the increase of prices observed in the consumption divisions Foods and Beverages, Non-Alcoholic Beverages (0.34%), Transportation (0.63%), Recreation and Culture (0.31%), Restaurants and Hotels (0.16%), Goods and Different Services (0.15%), Accommodation, Water, Electricity, Gas and Other Fuels (0.12%), Alcoholic Beverages, Tobacco and Narcotics (0.12%) and Furniture, Household Items and Routine Household Maintenance (0.10%).

In a lower measurement, it increased the prices of the Education (0.06%), Health (0.02%) and Clothing Items and Footwear (0.02%) divisions; meanwhile the Communications division did not register variation.

The increase of prices registered in the Foods and Non Alcoholic Beverages division was based in the greater prices registered in vegetables, legumes including potato and other tubers (2.3%) such as corn (46.6%), yellow sweet potato (23.0%), green fava beans (17.2%), pickle (8.4%), potato: color (13.0%), yellow (11.9%), white (11.0%) and Huayro (7.9%); black olives (8.0%) and whole garlic (7.9%). In addition, in coffee, tea and cacao (1.2%) such as the cocoa powder (11.0%); and other food products, such as the grounded garlic (12.8%), ginger (10.4%) and basil (10.0%).

Likewise, increase of prices registered the meat (1.0%) such as eviscerated chicken (3.0%), chicken innards (2.5%), chicken cuts: leg (1.5%), wings (0.6%) and breast (0.4%); pork loin (1.2%); and oil and fats (0.4%) such as the olive oil (7.7%).

On the other hand, it decreased the prices of fishes and seafoods (-3.2%) such as horse mackerel (-14.1%), Parrot fish (-3.7%), sea bass (-3.5%), Bonito fish (-3.0%) and mackerel (-2.6%). It also decreased the fruits (-1.1%) such as blueberries (-7.0%), mandarina (-5.1%), mango (-4.9%), strawberry (-4.7%), table orange (-3.7%), papaya (-2.6%), lemon (-1.8%) and pineapple (-1.6%).

In the Transportation division increased the prices of the fare of the inter-province omnibus (13.8%); transportation of passengers by air (3.1%), such as the domestique (5.7%) and international air ticket (2.3%); and fuels for vehicles (1.7%), such as the gasohol (1.9%), natural gas (0.9%) and Diesel oil (0.1%). Meanwhile, the Price of liquefied petroleum gas for vehicles decreased (-0.6%).

In Recreation and Culture increased the prices of touristic packages (5.8%), audiovisual, photography equipment and equipment of data processing (0.2%), such as printer (0.5%) and televisions (0.3%); as well as domestic animals and allied products (0.1%), such as food for pets (0.2%).

The increase of prices registered in Restaurants and Hotels was based in the greater prices observed in the service restaurants food and similar facilities (0.2%), such as broasted chicken (0.6%), pizzas (0.6%), regional soups (0.5%), breaded chicken (0.5%), Chifa plates (0.5%), Chaufa rice (0.4%), Ceviche (0.3%), Regional and Creole plates (0.2%) and menu in restaurants (0.2%); and services of beverages in restaurants and similar facilities (0.1%), such as blended fruit juice (0.2%) and carbonated drinks (0.2%).

In July of 2024, from the 586 products that are part of the family basket, 267 increased their price, 151 decreased and 168 kept their prices. The products that registered the highest increase were: corn (46.61%), yellow sweet potato (22.96%), green fava bean (17.16%), the fare of the inter-province omnibus (13.82%), color potato (12.99%), grounded garlic (12.81%), yellow potato (11.92%) and white potato (11.01%). Meanwhile, the following products registered a decrease of prices: tomato (-18.52%), celery (-17.20%), green peas (-15.87%), horse mackerel (-14.09%), green onion (-12.26%), green bean (-10.10%), Macre squash (-9.28%) and head onion (-8.76%).

The Price variation during the month of July of 2024 was influenced mainly by the increase of some foods such as corn, eviscerated chicken White and yellow potato; as well as the fare of the inter-province omnibus that together contributed with 0.226 percentage points to the result of the month; dimmed by the decrease of prices in vegetables such as tomato, head onion, green peas; horse mackerel and mandarina.

During the month of July of 2024, the variation of the Consumer Price Index in Lima Metropolitan area, without considering foods and energy (underlying inflation) increased 0.19%.

During the month under analysis, the Consumer Price Index at National Level grew 0.23%, with an accumulated variation at the month of July of 1.53% and annualized (August 2023-July 2024) of 1.77%. This result was based in the increase of prices observed in the consumer divisions of Transportation (0.61%), Food and Non Alcoholic Beverages (0.30%), Accommodation, Water, Electricity and Gas (0.23%), Recreation and Culture (0.21%), Restaurants and Hotels (0.16%), Goods and Different Services (0.15%), Alcoholic Beverages and Tobacco (0.12%), Education (0.10%), Health (0.06%), Furniture, Articles for the Household (0.05%) and Clothing Items and Footwear (0.04%). Nevertheless, there was registered a decrease in prices in the division of Communications (-0.02%).

During the month of July of 2024, from the 26 cities where the Consumer Price Index is calculated, 24 registered an increase of prices. The highest variations were observed in the cities of Puerto Maldonado (0.71%), Chimbote (0.50%), Arequipa and Huancavelica (0.39% each one). On the other hand, the cities that registered a decrease of prices were (-0.12%) and Tumbes (-0.25%).

During July of 2024, the Wholesale Price Index increased 0.63% due to the increase reported in the manufactured national products (Diesel oil, gasohol, industrial oil, GLP, pneumatics for the truck, plastic sacks, construction rods, PVC tubes, preserved fish in pieces, metal containers, chicken meat and cement), agriculture products (corn maize, green fava bean, garlic, potato, banana, sweet potato and paddy rice); and livestock (live chicken and hen, beef and swine cattle); nevertheless, it decreased the prices of fishing products (horse mackerel, Cojinova fish, Caballa fish, cabrilla fish and bonito fish).

Likewise, it increased the prices of imported goods of Manufacturing sector (Diesel oil, forklift, Steel plates, pneumatics for automobiles, trucks, polypropylene resins, front-end loaders, cellphone and soybean cakes); meanwhile it decreased the prices of the imported agricultural products (cotton not carded and wheat).

During the month under analysis, the Price Index of Machinery and Equipment increased 0.15%, explained by the greater prices observed in the imported machine and equipment such as, machinery and equipment for agriculture (agriculture trucks); transportation (automotive vehicles for transportation of personnel, road tractor for semi-trailer and oil filters); other machinery and equipment (basic medical instruments and monophasic electricity counters) and for industry (dumper trucks, pcs and wheel loaders).

In addition, the prices of machinery and national equipment increased; machinery and equipment for transportation (moto-taxi and car bodies); and industry (industrial use fans and welding machines); nevertheless, it decreased the prices of machinery and equipment for agriculture (pickaxe) and other machinery and equipment (fishing nets).

During July of 2024, the Price Index of Construction Materials in Lima Metropolitan area increased 0.22% due to the higher prices registered in seven of the ten that groups that integrates this indicator: metallics (are part of the indicator: metallics (construction rods and wire rods); woods (chipboards, Capirona wood and Cachimbo wood); glasses (primary and templated glasses); tubes and plastic accessories (PVC tubes: for sewerage, electricity, PVC accessories for electricity for water and sewerage); aggregates (stone, concrete and sand); concrete structures and frameworks (gypsum flat plates) and binders (Portland cement Type I). Nevertheless, the groups of tiles and mosaics (covering: for floor and wall); bricks (King Kong bricks); and electric supplies (power cables) showed lower prices.