INEI: inflation rose by 1.25% in March, the highest rate in a year

The National Institute of Statistics and Informatics (INEI) reported that the Lima Consumer Price Index (CPI), which measures inflation in Peru, rose 1.25% in March, with a cumulative deviation of 1.78% at the end of the first quarter of 2023. .

According to the institution, the figure recorded in March is currently the highest of the year. In February, it grew by only 0.29%, and in January – by 0.23%. In addition, cumulative inflation reached 8.40% last month, which is a smaller deviation from February’s full-year result of 8.65%.

He ERI He noted that annual inflation reached 8.67% and only in the reporting month it increased by 1.19%. The reason for these increases is due to the chaos caused by the protests in the country, as well as the atypical passage Cyclone Yaku. Intense rains recorded in various regions have destroyed roads, increased traffic in tourist areas and complicated trade relations.

Products that have risen in price the most

On the other hand, the institution reported that in metropolitan Lima, gutted chicken was the most expensive product, rising by up to 16%; they were followed by chicken eggs, which rose by 14.07%, strawberry (51.8%), lemon (18.4%), mango (17.1%) and silk banana (12.7%).

Of the 586 items in the family basket, 415 reported price increases, 103 declined, and 68 remained unchanged, according to INEI.

How much has the value of the base basket increased?

A study by Apoyo Consultoría has calculated that at the end of 2022, the basic basket for four people has increased to more than SGD 1,600.

“In 2022, it would increase by almost 8% compared to 2021. According to our estimates, in 2021 for a family of four, the cost of the basic basket would be 1512 somoni, and according to estimates for 2022, it would be closer to S / 1631,” explained Donita Rodriguez, Head of Macroeconomic Analysis. News RPP.

For this 2023, inflation remains high due to the pressure the economy is facing, the specialist said.

“Looking at the information as of February, headline inflation was around 8.6%, but it is the food and beverage component that has still risen above that 8% over the past 12 months. Perishable food inflation would be around 22%. %, this is due to the conflict and the waves of violence that have affected the supply chains, and we could resume inflationary pressure due to some restrictions due to adverse weather conditions,” said the expert Apoyo Consultoría.