Peru: Inflation increases in June to 13-month high
July 2, 2015
Consumer prices for Metropolitan Lima in June increased 0.33% over the previous month, which was below the 0.56% rise registered in May. The result overshot market expectations of a 0.29% 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 3.4% in May to 3.5% in June, which marked the highest result since May of last year. Consequently, inflation pushed above the upper limit of the Central Bank’s target of 2.0%, plus/minus 1.0 percentage point.
Author: Carl Kelly, Economist