Peru Inflation May 2017

Peru

Peru: Inflation eases further in May

June 1, 2017

Consumer prices for Metropolitan Lima, Peru decreased 0.4% in May compared to April (April: -0.3% month-on-month), which represented the second consecutive month of decreasing prices. May’s reading surprised market analysts, who had expected consumer prices to be steady at April’s level. The result in May came on the back of falling prices for food and beverages, housing and fuel and electricity. Inflation fell from 3.7% in April to 3.0% in May.

Core consumer prices, which exclude energy and food, increased 0.1% in May compared to the previous month (April: +0.1% mom). Core inflation came in at 2.5%, far below April’s reading of 3.7% and the lowest print since October 2015.

The Central Bank expects inflation to end 2017 between 2.0% and 2.5% and 2018 between 2.0% to 2.2%. Panelists participating in the LatinFocus Consensus Forecast expect inflation to end 2017 at 2.9%, which is unchanged from last month’s projection. For 2018, the panel expects inflation of 2.6%.


Author:, Economist

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Peru Inflation May 2017

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


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