Inflation in metropolitan Lima in June rose by 0.12%, resulting in a 1.57% increase in the consumer price index in the first half of the year.
According to figures reported yesterday by the National Institute of Statistics and Informatics (INEI), the year-on-year inflation rate (July 2023-June 2024) stands at 2.29%, within the target range of between 2% and 3% that the Central Reserve Bank of Peru (BCRP) seeks to consolidate in the current year.
The data for the sixth month of the year comes after two consecutive months in which the inflation It fell by 0.05% and 0.08% for April and May, respectively.
The prices that had the greatest impact on June inflation were corn (variation of 49.32%), bonito (+16.58%), yellow potato (+7.84%), horse mackerel (+14.38%) and domestic airfare (+11.87%).On the other hand, the price of eviscerated chicken fell by 3.89%, green peas (-11.24%), gasohol (-2.62%), strawberries (-8.07%) and mandarins (-4.44%).
Price evolution in the regions
The inflation At the national level, it advanced 0.07% in June, 1.30% from January to June and 1.89% in the last 12 months.
For the month of analysis, not only metropolitan Lima is above the national average, but also the cities of Moyobamba, Puno, Tarapoto, Huancayo, Moquegua and Cusco. In another 15 cities in the country, the monthly price index was negative, the most pronounced being Iquitos (-0.31%), Abancay (-0.44%) and Pucallpa (-0.48%).
In the last 12 months, Ayacucho remains as of June the only city in Peru with an inflation rate above 3%; while another eight have an inflation rate of less than 1%, and in one of them (Piura) it is slightly negative, said Juan Carlos Odar, economist at Phase Consultores.
What’s in store for prices?
In its latest inflation report for June, the Central Reserve Bank of Peru He explained that this indicator fell from 3.29% to 2.00% between February and May 2024 and that the items that contributed most to this slowdown are related to food and meals outside the home. Meanwhile, inflation excluding food and energy (core inflation) remained around 3.10% in the same period, with local transport and water rates having an upward impact. By the end of the year, the Central Bank estimates that inflation will reach a level of 2.2%.
Data
● Provinces. In the last 12 months, seven cities have had inflation in a range of 1.0% and 0.0%: Tacna (0.97%), Tumbes (0.84%), Cajamarca (0.71%), Pucallpa (0.65%), Chimbote (0.34%), Trujillo (0.28%) and Iquitos (0.25%).
● Fall. Between July 2023 and June 2024, the city of Piura is observed to have a negative variation in its price index (-0.07%).
Source: Larepublica
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