Peru Inflation April 2019


Peru: Inflation at 19-month high in April

May 8, 2019

Consumer prices in Metropolitan Lima rose 0.20% over the previous month in April, down notably from March’s 0.73% month-on-month rise, which had marked the fastest rise in two years. April’s increase was largely the result of higher prices for food and beverages—especially fish and seafood—and transport and communication, in particular diesel, and natural gas for vehicles.

Meanwhile, inflation climbed to 2.6% from March’s 2.2%, but remained within the Central Bank's target range of 2.0% plus or minus 1.0 percentage points and yet the fastest inflation in 19 months. In April, core consumer prices, which exclude energy and food prices, inched up 0.1% from the previous month, down from March’s 0.8% jump. Finally, core inflation inched down to 2.6% in April from March’s 2.7%, which had marked the highest print since September 2017.

Panelists participating in the LatinFocus Consensus Forecast expect inflation to end 2019 at 2.3%, which is unchanged from last month’s projection. For 2020, the panel expects inflation of 2.4%.

Author: Massimo Bassetti, Economist

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Peru Inflation Chart

Peru Inflation April 2019

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

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