News

Peru: Inflation in Metropolitan Lima surprises in February and reaches 0.56%

Peru
Market & Price Trends
Published Mar 2, 2024

Tridge summary

The Consumer Price Index in Metropolitan Lima hit a high of 0.56% in February, the highest since April 2023, as reported by the National Institute of Statistics and Informatics (INEI). This surge was primarily due to a 1.1% increase in the Accommodation, water, electricity, gas and other fuels sector, and a 0.92% rise in the Food and non-alcoholic beverages sector. The 12-month accumulated inflation was 3.29%, exceeding the Central Reserve Bank's target range of 1% to 3%. Economists, however, anticipate this to be a temporary spike.
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, the Consumer Price Index in Metropolitan Lima surprised and reached 0.56%, the highest percentage since April 2023, according to data from the National Institute of Statistics and Informatics (INEI). With this result, inflation moved away from the Central Reserve Bank's target range (between 1% and 3%) since the accumulated inflation for 12 months was 3.29%. In February alone, the result was mainly driven by the increase in prices in the Accommodation, water, electricity, gas and other fuels sector, which increased 1.1%. This month, an increase in domestic drinking water rates of 7.5% and municipal taxes of 8.8% was observed. On the other hand, an increase of 0.92% was also recorded in the Food and non-alcoholic beverages sector, due to the increase in prices of fish and seafood, gutted chicken, offal, among others. The chicken egg rose by 7.4%. Transportation, Restaurants and hotels, and Education were sectors that also recorded increases in costs of 0.48%, 0.33% and ...
Source: Apnoticias
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