Peru’s Inflation Hits 1.68% in 2024’s First Ten Months

Peru’s inflation rate reached 1.68% from January to October 2024. This figure emerged after a slight decrease of 0.04% in October. The National Institute of Statistics and Informatics (INEI) released these findings on Friday.

Lima Metropolitan area saw a price decrease of 0.09%. The cumulative change for this region stood at 1.76% for the January-October period. These details were part of INEI’s technical report on economic price indicators.

The annual rate, covering the last 12 months, showed a 1.73% change nationally. Lima Metropolitan area experienced a 2.01% change in the same period. These figures provide insight into Peru’s economic stability.

October’s national price decrease was mainly due to changes in three sectors. Food and Non-Alcoholic Beverages fell by 0.36%. Communications dropped by 0.07%. Transport prices decreased by 0.06%.

However, nine sectors saw price increases in October. Restaurants and Hotels rose by 0.20%. Housing, Water, Electricity, Gas, and Other Fuels increased by 0.18%. Miscellaneous Goods and Services went up by 0.15%.

Recreation and Culture saw a 0.11% increase. Alcoholic Beverages and Tobacco prices rose by 0.07%. Health sector prices increased by 0.04%. Education and Clothing and Footwear both saw a 0.02% rise.

Furniture, Household Items, and Home Maintenance experienced a slight 0.01% increase. These varied changes reflect the complex nature of Peru’s economic landscape. They show how different sectors respond to market forces.

Consumer prices increased in 17 cities across Peru in October. Chiclayo saw the highest rise at 0.42%. Huancavelica followed with a 0.31% increase. Moquegua experienced a 0.26% rise in consumer prices.

These figures paint a picture of Peru’s economic situation in 2024. They show modest inflation with some sectors growing while others contract. This data helps in understanding the country’s economic health and trends.