Peru Inflation January 2017


Peru: Inflation at five-month low in January

February 3, 2017

Consumer prices for Metropolitan Lima increased 0.24% in January from the previous month, which was below the 0.33% rise registered in December and marginally below market analysts’ estimate. According to the National Statistical Institute (INEI), the monthly change in prices was driven by adjustments to service prices after the year-end holidays, which partly offset the increase in prices for food and energy.

Inflation edged down from 3.2% in December to 3.1% in January, just a notch above Central Bank’s upper target limit of 3.0% and the lowest result since August 2016.

The Central Bank expects inflation to end 2017 between 2.0% and 2.5% and 2018 within a range of 2.0% to 2.2%. Panelists participating in the LatinFocus Consensus Forecast expect inflation to end 2017 at 2.7%, which is unchanged from last month’s projection. For 2018, the panel also expects inflation of 2.7%.

Author: Marlène Rump, Senior Data Analyst

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