Peru Inflation April 2017

Peru

Peru: Inflation eases in April

May 4, 2017

Consumer prices for Metropolitan Lima decreased 0.26% in April from the previous month, contrasting March’s 1.30% jump. The figure surprised analysts who had expected a 0.03% monthly increase. April’s reading was the first negative month-on-month variation since November 2014 and came on the back of cooling price pressures as the adverse effects of the floods are slowly receding. Core consumer prices, which exclude energy and food, increased 0.09% in April compared to the previous month (March: +0.84% month-on-month).

In line with the monthly decline, inflation came in at 3.7% in April, easing from March’s 4.0%. Meanwhile, core inflation came in at 2.8% just above March’s 2.7%.

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 2.7%.


Author: Marlène Rump, Senior Data Analyst

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Peru Inflation April 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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