Annualized inflation in Metropolitan Lima as of September reached 5.04%, the lowest in 25 months, after advancing only 0.02% in that month. While the accumulated figure so far in 2023 was 3.32%.
According to the National Institute of Statistics and Informatics (INEI), the slight advance in the ninth month of the year was driven by the increase in the price of lemon (+64.59%) and yellow potato (+21.12%), menu in restaurants, as well as taxi fare and gasohol, which together contributed 0.447 percentage points to the September result.
For his part, Juan Carlos Odar, director of Phase Consultores, complements that the result was attenuated by a correction in the prices of foods with a high impact on the basic family basket, such as chicken and onion.
In fact, during the last month, onion fell by 21.70%, gutted chicken by 8.86% and tuna by 13.79% (see infographic).
It should be noted that the variation in the consumer price index (CPI) of the capital, without considering food or energy, rose by 0.13% during September and achieved a cumulative variation of 3.55%.
Result by sectors
In the food and non-alcoholic beverage sector, fish and seafood decreased by 7.8%. The prices of vegetables and legumes, which include potatoes and other tubers, also decreased (-5.1%).
In contrast, prices of fruit at 7.8%. Similarly, the prices of sugar, jam, honey and chocolate rose.
While the rise of transport responds to higher prices of fuel for vehicles (4.3%), such as liquefied petroleum gas for vehicles (13.3%), diesel oil (4.2%), gasohol (3.9%) and natural gas for vehicles (0.2%); as well as the increase in the cost of national airfare (3.8%) and local transportation (0.6%), including taxi fare (1.8%) and motorcycle taxi (1.7%).
In restaurants and hotels, the prices of beverage services in restaurants and similar establishments increased (0.5%) such as hot drinks (0.9%), liquefied fruit juice (0.7%), etc.
In accommodation, water, electricity, gas and other fuels Domestic propane gas prices rose (1.4%) and residential natural gas consumption (0.2%) due to the new tariff schedule in force as of September 1, 2023.
Trend would continue
According to Odar, the trend towards low inflation is likely to continue in the coming months.
However, he indicated that a determining factor for this behavior will be the next El Niño phenomenon.
“To the extent that the climate factor dissipates, it should help inflation consolidate its downward trajectory. However, the risk outlook is still significant,” the economist warned.
Finally, he maintained that it would be possible to enter the target range in the first months of 2024.
Puno and Iquitos had the greatest increases
In the month of September 2023, 18 of the 26 cities where the consumer price index is calculated registered price increases, as reported by the INEI.
The greatest variations were observed in the cities of Fist and Iquitos (0.52% each), Tumbes (0.49%), Chiclayo (0.47%), Chachapoyas (0.43%) and Tarapoto (0.41%).
While the eight cities that had the lowest inflation were the following: Pucallpa (-0.46%), Trujillo (-0.29%), Tacna (-0.24%), Huancavelica (-0.20%) , Huánuco and Moquegua (-0.17% each), Piura (-0.04%) and Huancayo (-0.01%).
Data
Wholesale. The wholesale price index at the national level increased 0.13%, due to the increase in prices of imported goods.
Contrast. Nevertheless, prices of domestic products fell livestock.
Source: Larepublica
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