Peru Inflation

Peru

Peru: Inflation moderates in January

February 2, 2015

Consumer prices for Metropolitan Lima in January increased 0.17% over the previous month, which was below the 0.23% rise registered in December but above the 0.12% increase expected by the market. The lower print in January reflected a steep drop in prices for transport amid falling fuel prices, which was offset by higher prices for food and beverages.

Annual headline inflation inched down from 3.2% in December to 3.1% in January. However, inflation remains just 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 January 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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