Peru Inflation September 2016

Peru

Peru: Inflation inches up in September

October 7, 2016

Consumer prices for Metropolitan Lima increased 0.21% in September over the previous month, which was down from the 0.36% rise registered in August but above the 0.16% increase expected by market analysts.

Inflation climbed up from 2.9% in August to 3.1% in September. This took it back above the upper limit of the Central Bank’s target of 2.0% plus/minus 1.0 percentage point, after it had fallen below this limit for the first time in 17 months in August.

The core consumer price index, which excludes volatile items such as fresh food and fuels, rose 0.18% month-on-month in September (August: +0.25% month-on-month). Finally, core inflation edged down from August’s 3.9% to 3.8% in September, which was the lowest print in 15 months.

The Central Bank indicated that it expects inflation to be between 2.6% and 3.1% in 2016 and between 2.0% and 2.2% in 2017. Panelists participating in the LatinFocus Consensus Forecast expect inflation to end 2016 at 2.9%, which is unchanged from last month’s projection. For 2017, the panel expects inflation of 2.7%.


Author: Marlène Rump, Economist

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Peru Inflation September 2016

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


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