The inflation in Metropolitan Lima it continues to accelerate. The Consumer Price Index (CPI) registered an annual variation of 5.25% as of October 2026, its highest level since August 2023when it reached 5.58%, according to information from the National Institute of Statistics and Informatics (INEI).
With this result, inflation accumulates eight consecutive months above the target range established by the Central Reserve Bank of Peru (BCRP)which is between 1% and 3%.
One of the main factors behind this behavior is the increase in fuel prices. According to INEI data, the division of Transportation recorded an increase of 15.75% in the last 12 months, driven mainly by the 43.67% increase in fuels and lubricants for personal use vehicles.
Food also contributed to inflationary pressure. This division, one of the most important in the consumer basket, accumulated an increase of 6.33% between November 2025 and October 2026. The greatest increases were observed in fish and seafood (23.30%), as well as vegetables, legumes and tubers.
The INEI explained that the effects of the El Niño Coastal Phenomenon affected agricultural production and the availability of hydrobiological species, such as bonito and horse mackerel. This situation reduced supply and supply to the markets.
Added to this was the increase in international fuel prices, which was transferred to the internal costs of transportation and distribution, raising marketing expenses and, finally, the prices paid by consumers.
The pressure is also observed in wholesale markets. According to information from Ministry of Agrarian Development and Irrigation (Midagri)products such as green peas, onion, corn, green beans, green beans, olluco, potatoes, tomatoes, green beans, carrots and squash register prices higher than the average of the last two years in the Great Wholesale Market of Lima.
The impact of these factors is also reflected in economic projections. With information corresponding to September, inflation expectations for 2026 were between 3.48% and 4.20%, while for 2027 they were between 2.50% and 3%.
Only during October, the CPI of Metropolitan Lima increased 0.57%, its highest variation for that month in the last four years. In October 2021, an increase of 0.58% had been recorded.
The products that had the greatest impact on the monthly result were tuna, corn, carrots, green peas and yellow potatoes, all belonging to the food group.
In contrast, the reduction in prices for mobile telephone consumption, chicken eggs, gutted chicken, tomatoes and papaya contributed to moderating the increase in the indicator.
