Peru Inflation

Peru

Peru: Inflation edges down in July

August 1, 2014

Consumer prices for Metropolitan Lima increased 0.43% over the previous month in July, which was up from the 0.16% rise registered in June. The print came in above the 0.38% increase the market had expected. The increase was broad-based, as all eight components of the index gained ground in July. The largest expansions were recorded in food and beverages, and in the transportation and communications category.

Annual headline inflation edged down from 3.4% in June to 3.3% in July, which marks the lowest rate since January of this year. However, inflation is still above the upper limit of the Central Bank’s target of 2.0%, plus/minus 1.0 percentage point.

In its April quarterly inflation report, the Central Bank indicated that it expects inflation of between 2.5% and 3.0% in 2014 and between 1.5% and 2.5% in 2015. LatinFocus Consensus Forecast panelists expect inflation to end 2014 at 2.7%, which is unchanged from last month’s projection. For 2015, the panel expects inflation of 2.5%.


Author:, Economist

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Peru Inflation Chart


Peru Inflation July 2014 0

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


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