Vehicle prices fall due to the drop in the exchange rate in April | PERU

The Automotive Association of Peru (AAP) reported that the Consumer Price Index of Metropolitan Lima registered an increase of 0.56% at the monthly rate last April, below the 1.25% observed last month.

In a statement, the institution added that, during the first four months, the price index increased 2.35%, while in the last twelve months the variation fell to 7.97%, less than the 8.40% of the previous month, although it is still far the target range determined by the Banco Centralbetween 1% and 3%.

Regarding the National Price Index, it advanced by 0.55% in the fourth month of 2023 compared to the previous month, for its part, during the first four-month period the increase was 2.66%, while the annual variation amounted to 8.04%. , lower than the 8.67% of last March.

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According to the INEI, indicated the AAP, the result of the Consumer Price Index of Metropolitan Lima corresponding to April 2023 was mainly influenced by the price variation observed in the Food and Non-Alcoholic Beverages consumer divisions with 1.44%, followed by Restaurants and Hotels with 0.77% and Health with 0.51%; while the Lodging, Water, Electricity and Other Fuels division negatively influenced the result with -0.29%. These four divisions explain 85% of the result for the month.

For the automotive union, the performance of the price index of the Transportation group showed an increase of 0.13%. This behavior was explained, among other reasons, by the increase in prices in transport services, associated with a higher seasonal demand at Easter and long holidays at the end of the month, such as interprovincial bus fares with 5.1% and passenger transport. by air: national airfare with 8.9% and international airfare with 1.9%.

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“Conversely, vehicle fuels presented price reductions, such as diesel oil with -4.1%, vehicular liquefied petroleum gas with -3.1% and gasohol with -1.0%; as well as the acquisition of vehicles, such as cars and new motorcycles, both with -0.8%, due to a lower exchange rate. It should be noted that with respect to this last item, the variation during the first four months stood at 0.55%, while the annual variation reached 6.87%, less than the 7.33% of March 2023., the AAP said in its statement.

Regarding the price index of the main cities of Peru, it can be seen that the place where prices have increased the most was Trujillo, with annual inflation last April of 10.46%, followed by Ica with 10.05% and Arequipa with 9.43%. .

Then came Tacna with 9.18% and Cajamarca with 8.91%. On the other hand, the cities with the lowest inflation were Moyobamba with 5.92%, Huancavelica with 5.74% and Pucallpa with 5.44%.

“For the following months, inflation is expected to continue moderating, but it would close the year above the BCRP’s upper target range, because the factors that led to its increase would tend to dissipate. However, some risk variables could be activated later, among which an eventual El Niño Phenomenon stands out, which, if it occurs, could be of great magnitude, which would trigger greater pressure on prices, mainly food.”reads in the text.

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