Peru registered an inflation of 0.52% in September and 8.53% annually

The Consumer Price Index (IPC) in Lima, a reference for Peru, increased 0.52% in September, mainly driven by increases in food prices, the National Institute of Statistics and Informatics (INEI) reported this Saturday.

With this result, the price variation in the last 12 months reached 8.53%, more than double the annual target range of 3.7% determined by the Peruvian economic authorities at the beginning of 2022.

In the first nine months of the year, the inflation accumulated stood at 6.68%, said the INEI in a report.

“The monthly result is based on the increase in prices observed, mainly, in the consumer divisions: Food and Non-Alcoholic Beverages (1.34%)”, according to the report.

In September, the prices of fish rose -such as bonito, horse mackerel, parrotfish and mackerel-, as well as potatoes, a basic food in the Peruvian diet that is becoming inaccessible for thousands of poor families.

The prices of chicken, oil, butter, noodles, lemon, tangerine and passion fruit also rose, but those of corn (corn), carrot, celery and cauliflower fell.

In addition to food, in September there were also increases in the prices of Accommodation, Water and Electricity (0.56%), Restaurants and Hotels (0.65%), the INEI pointed out.

The increase in prices in Health (0.52%), Furniture and Household Items (0.27%) and Clothing and Footwear (0.25%) also had an impact, according to the state institute.

Last year, Peru closed with an inflation rate of 6.43% when the Central Bank’s target was 3.0%, amid electoral tensions and the covid-19 pandemic.

In 2020, the year the pandemic broke out in Peru, inflation was 1.97%, slightly higher than the 1.9% of 2019.