Peru Inflation May 2019

Peru

Peru: Inflation at 20-month high in May

June 3, 2019

Consumer prices in Metropolitan Lima rose 0.15% over the previous month in May, down from April’s 0.20% month-on-month rise. May’s increase was largely the result of higher prices for education and culture, and transport and communication—in particular diesel, and natural gas for vehicles.

Meanwhile, inflation climbed to 2.7% from April’s 2.6%, the fastest inflation in 20 months, but remained within the Central Bank's target range of 2.0% plus or minus 1.0 percentage points. In April (the latest month for which data is available), 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 May 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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