Peru Inflation February 2017


Peru: Inflation inches up in February

March 2, 2017

Consumer prices for Metropolitan Lima increased 0.32% in February from the previous month, which was above the 0.24% rise registered in January and marginally above market analysts’ estimate of a 0.31% increase. According to the National Statistical Institute (INEI), the monthly change in prices was largely driven by higher prices for food and drinks. Core consumer prices, which exclude energy and food, increased 0.23% in February compared to the previous month (January: +0.21% month-on-month).

Inflation edged up from 3.1% in January to 3.2% in February. Meanwhile, core inflation came in at 3.2%, the lowest result in over two years (January: 3.6%).

The Central Bank expects inflation to end 2017 between 2.0% and 2.5% and 2018 within a range of 2.0% to 2.2%. Panelists participating in the LatinFocus Consensus Forecast expect inflation to end 2017 at 2.8%, which is up 0.1 percentage points 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 Chart

Peru Inflation February 2017 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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