Peru’s consumer price index increases by 3.17% from January to July 2023

The Consumer Price Index (CPI) of Peru saw a 0.34% increase in July 2023, accumulating a rise of 3.17% over the first seven months of the year, according to a report by the National Institute of Statistics and Informatics (INEI).

The CPI for Metropolitan Lima recorded a 0.39% increase in July, bringing the total variation to 2.92% between January and July.

The annual rate of the national indicator showed a 6.02% variation, and 5.88% for Lima Metropolitan, remaining slightly above the economy minister’s projection of “below 6%.”

The monthly rise in July was attributed to higher-than-average increases at the national level in recreation and culture (0.72%); food and non-alcoholic beverages (0.62%); and restaurants and hotels (0.56%).

Meanwhile, growth was below the national average in divisions such as diverse goods and services (0.31%); communications (0.30%); household furniture and maintenance (0.25%); and clothing and footwear (0.23%).

In July, consumer prices showed positive variations in all 26 cities in the South American country where the CPI is calculated, with the highest variation, 1%, in the Huancavelica department, as per the INEI report.

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