He Consumer Price Index (CPI) in Metropolitan Lima it fell 0.32% year-on-year in October, according to the National Institute of Statistics and Informatics (INEI).
In this way, the accumulated inflation in the tenth month of the year reverts to 2.99% and that of 12 months to 4.35%, -the lowest since July 2021-, one step closer to the target range of 3%.
The drop in the price of lemons would have contributed to the looser performance of inflation in the month under study. It went from costing S/9.06 to S/2.17 in the wholesale market, according to the Price and Supply System (SISAP).
BCRP estimates that inflation will continue to decline and will close the year at 3.38%. For this reason, it has begun a slow race to alleviate the reference rate, which currently stands at 7.25%.
However, these forecasts could be undermined by the domestic demand component, which remained almost at a 14-year low in September, and the price of the dollar above S/3.85 on average.
It should be noted that inflation remains above the target range of 3% for 28 months, and that the fall in the price index of Metropolitan Lima was greater than that observed at the national level (0.27%).
Source: Larepublica
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