The Consumer Price Index (CPI) of Metropolitan Lima returned to the target range in May and stood at 2.01%, according to the National Institute of Statistics and Informatics (INEI).
Similarly, inflation in the fifth month of 2024 advanced 0.9% compared to April, and recorded progress so far this year of 1.45%. According to economist Juan Carlos Odar, this is the lowest annual inflation in the last 41 months, since the end of 2020.
It is worth mentioning that inflation had already returned to the target range in April, after registering a decline of -0.05% that month to reach an annual figure of 2.42%. The BCRP expects the CPI to remain within the target range of between 2% and 3% until the end of the year.
At the national level, inflation in May 2024 increased by 1.66%, with a month-on-month decline compared to April of -0.13% and a cumulative growth of 1.23% so far this year.
The monthly result was influenced, mainly by the price reduction in the consumption divisions of Food and Non-alcoholic Beverages (-0.84%) and Accommodation, Water, Electricity, gas and Other Fuels (-0.15%).
On the contrary, the prices of Transportation (0.31%), Restaurants and Hotels (0.28%), Education (0.17%), Miscellaneous Goods and Services (0.17%), Health (0.14%) rose. %), Recreation and Culture (0.13%), Furniture, Household Items and Ordinary Home Conservation (0.11%), Alcoholic Beverages, Tobacco and Narcotics (0.05%), Communications (0.03% ) and Clothing and Footwear (0.02%).
It should be noted that domestic cement consumption, an indicator of the recovery of the real estate sector, grew by 7.46% in April 2024 compared to the same month of the previous year.
Source: Larepublica
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