Peru Inflation

Peru

Peru: Inflation increases in May to 11-month high

June 1, 2015

Consumer prices for Metropolitan Lima in May increased 0.56% over the previous month, which was above the 0.39% rise registered in April. 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 April. The largest increases were recorded in the housing and utilities category, followed by transport and communication.

Annual headline inflation increased from 3.0% in April to 3.4% in May, which marked the highest result since June 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 January quarterly inflation report, the Central Bank indicated that it expects inflation between 1.5% and 2.5% in both 2015 and 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 May 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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