Peru: Inflation inches down in February
March 1, 2016
Consumer prices for Metropolitan Lima increased 0.17% in February over the previous month, which was below the 0.37% rise registered in January and the 0.25% increase expected by market analysts. A seasonal increase in the price of textbooks and school supplies drove rising prices for recreation, cultural and education goods, while prices for food and beverages fell.
Inflation eased from 4.6% in January—which had marked the highest reading since December 2011—to 4.5%. Consequently, inflation remains above the upper limit of the Central Bank’s target of 2.0% plus/minus 1.0 percentage points.
The core consumer price index, which excludes volatile items such as fresh food and fuels, rose in February by 0.62% month-on-month (January: +0.29% mom). Finally, core inflation rose from January’s 4.1% to 4.4% in February.