Peru: Consumer prices in Metropolitan Lima grew more than expected and moved away from the target range

Market & Price Trends
Published Mar 2, 2024

Tridge summary

Consumer prices in Metropolitan Lima, Peru, increased by 0.56% in February, marking a 3.29% rise over the past year, the highest in a decade, according to the INEI. This surpasses the national average increase of 0.41%. The most significant price hikes were seen in products such as horse mackerel, culantro, hake, and strawberries. The main sectors contributing to this increase were accommodation and basic services, food, and transportation. The start of the school season also resulted in higher enrollment costs in private educational centers.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

In February, consumer prices in Metropolitan Lima advanced 0.56% and accumulated 3.29% in the last 12 months, according to the latest report from the INEI. With this indicator, Peru has not yet reached the target range set by the Central Reserve Bank of 1% to 3%. It is worth saying that consumer prices in Metropolitan Lima are the BCR's reference to know how much inflation is advancing in the country. "Lima has been one of the three cities in Peru with the highest inflation, which has not happened since June 2022... it is the highest rate of increase in 10 years. This time the increase in Lima has been greater than the national average increase (0.41%). This interrupts the downward trend in annual inflation: it jumped from 3.02% in January to 3.3% now," said Juan Carlos Odar, director of Phase Consultores. For February, according to the INEI, the products that increased the most in Lima are horse mackerel (25.87%), Culantro (24.31%), hake (23.71%), strawberry (22.30%), lettuce ...
Source: Apnoticias
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