Peru Inflation

Peru

Peru: Inflation falls to lowest point in 15 months in August

September 1, 2014

Consumer prices for Metropolitan Lima decreased 0.08% over the previous month in August, which contrasted the 0.43% rise registered in July. The print also contrasted the 0.20% increase the market had expected, and marked the first negative reading since November of last year. The decrease was driven mainly by a drop in prices for housing, gas and electricity. The transportation and communications category also tallied a decline.

Annual headline inflation fell from 3.3% in July to 2.7% in August, which marks the lowest rate since May of last year. As a result, inflation is now below the upper limit of the Central Bank’s target of 2.0%, plus/minus 1.0 percentage point.

In its July 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 August 2014

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


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