Peru Inflation


Inflation inches up in May

Consumer prices for Metropolitan Lima increased 0.23% over the previous month in May, which was down from the 0.39% rise registered in April. The print came in just above the 0.18% increase the market had expected. The increase was broad-based as seven of eight components of the index gained ground in May. The largest expansions were recorded in food and beverages and in clothing and footwear.

Annual headline inflation inched up from 3.5% in April to 3.6% in May. Inflation is still above the upper limit of the Central Bank’s target of 2.0% plus/minus 1.0 percentage points.

In its April quarterly inflation report, the Central Bank indicated that it expects inflation of between 2.5% and 3.0% in 2014 and between 1.5% and 2.5% in 2015. LatinFocus Consensus Forecast panelists expect inflation to end 2014 at 2.7%, which is unchanged from last month’s projection. For 2015, the panel expects inflation of 2.5%.

Author:, Economist

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Peru Inflation Chart

Peru Inflation May 2014

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

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