Peru Inflation March 2017

Peru

Peru: Inflation jumps to one-year high in March

April 6, 2017

Consumer prices for Metropolitan Lima increased 1.30% in March from the previous month, which was a sharp rise from the 0.32% increase registered in February. The figure overshot market analysts’ estimate of a 0.90% rise. Devastating floods have destroyed infrastructure, roads and agricultural land in recent weeks, lifting prices rapidly. A monthly increase of this magnitude has not been seen since 1998. Core consumer prices, which exclude energy and food, increased 0.84% in March compared to the previous month (February: +0.14% month-on-month).

In line with the monthly rise, inflation jumped from 3.2% in February to 4.0% in March. Meanwhile, core inflation came in at 2.7% just above February’s 2.6%.

The Central Bank expects inflation to end 2017 between 2.0% and 2.5% and 2018 between 2.0% to 2.2%. Panelists participating in the LatinFocus Consensus Forecast expect inflation to end 2017 at 2.9%, which is up 0.1 percentage points from last month’s projection. For 2018, the panel expects inflation of 2.7%.


Author: Marlène Rump, Senior Data Analyst

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Peru Inflation March 2017

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


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