Inflation continues to give our pockets a break. In November, consumer prices in Metropolitan Lima rose barely 0.11%according to the Institute of Statistics and Informatics (INEI). With this result, the accumulated inflation of the last 12 months was located in 1.37%well below the ceiling of the BCR’s target range.
What pushed prices up?
Among the most influential divisions, restaurants and hotels once again led the rise, with an annual increase of 2.75%. The INEI specifies that the prices of accommodation services in hotels, hostels and the like rose on average 3.4% in the last year.
The food and non-alcoholic beverages They also contributed to the progress, although to a lesser extent, with an annual variation of 1.19%. Within this group, fish and seafood stood out the most, with an average increase of 15.66%during the year.
And what helped them not to rise more?
Other items with a heavy weight in the basket had more benign behavior. The clearest case is that of accommodation, water, electricity, gas and other fuelswhose prices fell 2.35% in the last year, mainly due to the reduction of 7.6% in electricity and energy rates.
The category transport also remained fairly stable, with a moderate rise in 0.86% in twelve months.
The INEI highlighted that annual inflation continues below 2% and well below what has been observed in recent years: it was 2.27% in 2021, 3.64% in 2023and came to 8.45% in 2022, when the war between Ukraine and Russia put strong pressure on food and fuel prices.
What happened in November around the country?
- Although Lima marked an increase of 0.11% in November, the behavior was not uniform. Of the 26 cities monitored by the INEI:
• Only 7 recorded positive variations,
• In the rest, prices fell,
• 18 cities They ended the year with inflation lower than that of Lima,
• 5 They even recorded negative inflation,
• and 3 They exceeded the rate of the capital.
In this way, November ratified the price stability that characterizes the Peruvian economy, positioning it as regional leader with the longest period of single-digit inflation in South America.
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