Peru Inflation


Inflation rises in June

In June, consumer prices for metropolitan Lima rose 0.26% over the previous month, which came in above the 0.19% increase recorded in May. Higher prices for transport and communications as well as for housing, fuel and electricity were the main drivers behind the monthly increase.

As a result of the monthly price rise, annual headline inflation rose from 2.5% in May to 2.8% in June. Notwithstanding the rise, inflation still sits within the Central Bank's target of 2.0% with a tolerance margin of plus/minus 1.0 percentage points.

In its June inflation report, the Central Bank expects consumer prices to end both this year and next within a range of between 1.5% and 2.5%. LatinFocus Consensus Forecast panellists are slightly less optimistic and expect inflation to end 2013 at 2.6%, which is unchanged from last month's projection. For 2014, the panel expects inflation to fall to 2.5%.

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Peru Inflation Chart

Peru Inflation June 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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