Peru: Inflation increased 0.14% in October
According to the National Institute of Statistics and Information (INEI) the Consumer Price Index of…According to the National Institute of Statistics and Information (INEI) the Consumer Price Index of Metropolitan Lima, which is used to measure inflation in Peru, increased by 0.14% in October; a higher rate than the 0.03% registered in September.
The head of INEI, Anibal Sanchez, said the cumulative variation in the first ten months of the year amounted to 3.58% and that it amounted to 3.66% in the last twelve months. He also stated that this month's results were the second lowest of the year.
According to the INEI, October's inflation is mainly explained by the higher prices for medical consultations, medicines, clothing, personal care services and food products, such as yellow potatoes, white potatoes, huayro and pink potatoes, avocados, custard apples, oranges, lime, noodles and rice.
Prices of food products for barbecues, grilled chicken, restaurant menus, as well as liquefied petroleum gas for vehicles also increased.
However, there was a decrease in prices of gasoline, compressed natural gas, diesel oil, local residential telephone rates, certain fish, chicken eggs, buttery cheese, red onion heads, chilli peppers, whole garlic, eviscerated poultry, chicken breast and leg.
Behaviour of food prices
During the month analysed, the products that had the highest price increases were cucumber (33.0%), strong avocado (17.4%), sea bass (13.7%), cherimoya (13.1%), white potato (10.3%), yellow potatoes (9.8%), huayro potato (8.9%) and American green peas (8.4%).
Meanwhile, the products with the highest decreases were: parakeet fish (-20.5%), red onion heads (-12.9%), mango (-11.9%), dogfish (-10.9%), Israel apple (-10.6%), chilli pepper (-6.6%), and strawberry (-6.4%).
Consumer prices nationwide increased by 0.13%
In October 2015, the Nationwide Consumer Price Index increased by 0.13%. The accumulated variation up to the tenth month of the year amounts to 3.32% and the annualized change in the period between November 2014 and October 2015 totals 3.37%.