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Inflation in Metropolitan Lima was the highest in the country in June

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In June, the inflation of Metropolitan Lima was, for the first time in 2022, the highest in the country, revealed the National Institute of Statistics and Informatics (INEI).

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Thus, during the fifth month of the year, the consumer’s price index (IPC) in metropolitan Lima stood at 1.19%, exceeding the national average (1.03%) and the rest of the regions (see infographic).

While the annual variation (since July 2021) reached 8.81%; and that accumulated to the first half of 2022, 4.44%, its highest level in the last four years.

In this sense, it is necessary to specify that, according to Julio Velarde, president of the Central Reserve Bank of Peru (BCRP), inflation will reach its peak in July, and from there it will begin to decline. Regarding the target range, it is expected to return to 3% only for the second half of 2023.

Why did inflation accelerate?

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The INEI specifies that the rebound in June is due to the rise in prices in sectors such as transportation (3.24%) due to the increase in bus, micro and combi tickets, air tickets, gasoholes and diesel.

Also the rebound in food and non-alcoholic beverages (1.88%) due to products such as chicken eggs and eviscerated chicken, and fruits such as mango, papaya, apple and, finally, for breads and cereals such as purple corn and oats.

In restaurants and hotels (1.02%) it was due to the increase in prices in the restaurant service. Other items that contributed to the increase in inflation they are health (0.76%) due to the increase in prices in dental services, hospitalizations and consultations; followed by accommodation, water, electricity and gas (0.75%).

What products are more expensive?

The products that registered a greater price variation in the sixth month of the year were chicken eggs (19.72%); purple corn (16.21%); accommodation (15.14%); mango (13.81%) and gasoline (10.98%). Those that fell the most are, mainly, blueberries (-10.15%); parakeet (-8.48%); strong avocado (-5.04%) and residential natural gas (-4.36%).

Foods such as chicken have seen an increase in their price in recent months. Photo: The Republic

Finally, the INEI noted that the wholesale price index at the national level increased 0.38% due to the rise in manufactured products such as gasohols, industrial oil and diesel, as well as short pasta, chicken meat and wheat flour, among others.

Key code

Regional. Arequipa (1.04%) is the second region with more inflation. Followed by Ayacucho (1.01%), Chimbote (0.98%) and Tacna (0.97%). With less variation are Pto. Maldonado (0.26%), Pucallpa (0.29%) and Moquegua and Moyobamba (0.36%).

Source: Larepublica

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