Peru Inflation

Peru

Peru: Inflation increases in July to 17-month high

August 2, 2015

Consumer prices for Metropolitan Lima in July increased 0.45% over the previous month, which followed the 0.33% rise registered in June. The result slightly overshot market expectations of a 0.40% increase. The result was broad-based, as all eight components of the index gained ground in June. The largest increase was recorded in the housing, fuel and electricity category, followed by transport and communication.

Annual headline inflation inched up from 3.5% in June to 3.6% in July, which marked the highest result since February of last year. Consequently, inflation pushed further above the upper limit of the Central Bank’s target of 2.0%, plus/minus 1.0 percentage point.

In its May quarterly inflation report, the Central Bank indicated that it expects inflation between 2.0% and 3.0% in 2015 and between 1.5% and 2.5% in 2016. LatinFocus Consensus Forecast panelists expect inflation to end 2015 at 2.6%, which is unchanged from last month’s projection. For 2016, the panel expects inflation of 2.7%.


Author:, Economist

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Peru Inflation Chart


Peru Inflation July 2015

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


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