The National Institute of Statistics and Informatics (INEI) reported that the consumer price index, an indicator that measures inflation in the country, grew 1.25% in March 2023, the highest figure recorded in a year, taking into account that it only grew 0.29% in February and 0.23% in January. The monthly result was mainly influenced by the increase in prices in consumer divisions such as education (4.79%), food and non-alcoholic beverages (2.79%), as well as restaurants and hotels (0.72%).
What foods went up and down the most in March?
Let us remember that at the beginning of March, the Central Reserve Bank of Peru (BCRP) warned that the monthly rate of inflation would be higher than in previous months due to seasonal factors such as heavy rains due to the Cyclone Yaku.
The products that increased in price the most during March 2023 in Metropolitan Lima were strawberry (+51.81%), celery (+50.43%), purple corn (+32.24), parakeet (30.24%), leek (+25.06%), lettuce (+19 05%), lemon (18.40%), mango (+17.12%), ground meat (+2.2%) and meat for stews (+1.8%).
By contrast, The foods that lowered their price the most in March They are choros (-10.01%), strong avocado (-10.48%), yellow or pickled chili pepper (-10.94%), white potato (-11.07%), yellow potato (-11.39% ), ground rocoto pepper (-11.77%), white grape (-14.96%) and huayro potato (-14.98%).
INEI shows a list of products whose prices rose and fell more in March. Photo: INEI
What products and services with the highest incidence in March went up and down in price?
In addition, the products with the highest incidence in the consumer’s price index —that is, the most consumed and the ones that give the greatest weight to the result of the inflation— that increased their cost are eviscerated chicken (+16%), chicken eggs (+14.07%), strawberry (+51.81%). Regarding services, the school pension influenced the variation of the price index by registering 10.26%, while the university pension had 2.38%.
Let us also remember that the northern region of Peru was affected by heavy rains that caused flooding and affected the normal supply of markets. The product that most affected the variation in March was eviscerated chicken, explained by the significant reduction in supply due to roadblocks, lack of bird feed and the presence of the bird flu.
Most consumed products and most used services, whose values rose and fell more in March. Photo: INEI
While in the group with the highest incidence of inflation, the reduction in white potato prices (-11.07%), yellow potato (-11.39%), green peas (-8.52%), strong avocado (-10.48%). Regarding services, international airfare registered a variation of -3.72%.
meals in restaurants
In relation to the restaurants and hotels division, prices of food services in restaurants rose and similar places (+0.8%) such as grilled chicken (+1.2%), seafood dishes (+1.2%), grilled meat (+1.1%), chicken broth (+ 0.9%), chaufa rice (+0.9%), ceviche (+0.8%), sandwiches (+0.8%), restaurant menus (+0.7%) and Creole and regional dishes ( +0.7%); and the service of drinks in restaurants (+0.6%) such as natural soft drinks (+0.8%), smoothie fruit juice (+0.6%), served beer (+0.6%) and soft drinks (+0.6%).
Source: Larepublica
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