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%.