Peru Inflation October 2016

Peru

Peru: Inflation climbs to five-month high in October

November 4, 2016

Consumer prices for Metropolitan Lima increased 0.41% in October from the previous month, which was up from the 0.21% rise registered in September and above the 0.20% increase expected by market analysts. According to the National Statistical Institute (INEI), the increase was boosted by seasonally higher prices for certain food items.

Inflation increased from 3.1% in September to 3.4% in October and reached a five-month high, taking it further above the Central Bank’s upper limit of 3.0%.

The core consumer price index, which excludes volatile items such as fresh food and fuels, rose 0.26% month-on-month in October (September: +0.18% month-on-month). Finally, core inflation edged up from 3.8% in September to 3.9% in October.

Consensus paragraph: The Central Bank indicated that it expects inflation to be between 2.6% and 3.1% in 2016 and between 2.0% and 2.2% in 2017. Panelists participating in the LatinFocus Consensus Forecast expect inflation to end 2016 at 3.0%, which is up 0.1 percentage points from last month’s projection. For 2017, the panel expects inflation of 2.8%, which is up 0.1 percentage points from last month’s estimate.


Author: Marlène Rump, Economist

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Peru Inflation October 2016 0

Note: Month-on-month and year-on-year variation of consumer price index in %.
Source: Peru National Statistical Institute (INEI)


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