Peru Inflation


Inflation inches down in December

Consumer prices for Metropolitan Lima increased 0.17% over the previous month in December, contrasting the 0.22% decline registered in November. The print fell slightly short of the 0.20% increase the market had expected. The increase was broad based, with the largest increases registered in prices for transport and communications. The only category that registered a drop in prices was food and beverages.

Annual headline inflation inched down from November's 3.0% to 2.9% in December. As a result, inflation now sits just a notch below the upper limit of the Central Bank's target of 2.0% plus/minus 1.0 percentage point.

In its December quarterly inflation report, the Central Bank indicated that it expects inflation of around 2.0% for both 2014 and 2015. LatinFocus Consensus Forecast panelists expect inflation to end 2014 at 2.6%, which is up 0.1 percentage points from last month's projection. For 2015, the panel expects inflation to ease to 2.3%.


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Peru Inflation Chart

Peru Inflation December 2013

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

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