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Lima registers an annual inflation of 8.66%, the highest in five months

Lima registers an annual inflation of 8.66%, the highest in five months

Follow the rise. Since May 2022, this indicator is above 8%. Nine cities, especially in the south of the country, reach two digits of inflation due to the absence of basic products

During the first month of 2023, inflation in Metropolitan Lima increased 0.23%, with an annual variation of 8.66%, the highest since July 2022 (8.74%). In the annual evolution It is observed that since May of last year it continues to be above 8%, far from the target range of the Central Reserve Bank (BCRP), which ranges between 1% and 3%.

The increase in food and non-alcoholic beverages (0.67%), restaurants and hotels (0.53%), various goods and services (0.42%) and recreation and culture (0.34%) They were the ones that had the greatest impact on the result of the previous month.

Transportation was the only division that showed a decrease in its prices (-0.90%) mainly due to a lower demand for tickets after the year-end holiday.

In detail, green peas (91.2%), Chinese onion (30.19%) and carrot (29.49%) were the products that rose the most. And those that decreased the most are bonito (-22.99%), parakeet (-14.54%) and interprovincial bus fares (-13.00%).

Core inflation (which excludes food and energy prices) presented a variation of 0.05% in January.

Impact in the south

At the national level, the inflation reached 8.87% in annualized terms and advanced 0.46% in January 2023. Juan Carlos Odar, director of Phase Consultores, warned that nine of the main cities in Peru, most of them in the southern zone, reported double-digit inflation in the first month of the yearwhile in November and December only three were recorded.

It is noteworthy that the rise in the last two months of annual national inflation (INA) has been concentrated in the southern regions, the focus of social protests. In the north it has rather gone down, indicating that this would have been the trajectory of the INA in the absence of protests.,” Odar said.

Regarding the month of January, Puerto Maldonado (6.13%), Puno (2.96%) and Moquegua (2.19%) were the regions that registered the greatest price variation, since they are the cities most affected by the shortage of some products in the supply markets, indicated the INEI. Taking into account that inflationary expectations for 2023 are above 4%, and despite the weak progress of economic activity, since the BBVA Research They did not rule out that the BCRP finds it prudent to raise its reference interest rate a little more, to 8.0% in February (from the current 7.75%).


Panorama. In January, of the 586 products that make up the family basket, 378 registered price rises, 111 fell and 97 showed no change.

cities. 24 of the 26 cities where inflation is calculated registered price increases. The highest variation was reported in Puerto Maldonado due to the increase in fuels for transportation and gas.

Source: Larepublica

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