Peru Inflation

Peru

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.

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 June 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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