Peru Inflation September 2017


Peru: Inflation moderates in September

October 6, 2017

Consumer prices in Metropolitan Lima stayed flat over the previous month in September, down from August’s 0.7% rise. September’s reading was the result of lower prices for food and beverages—namely vegetables and legumes, tubers and roots, and sugar—offset by higher prices for housing, fuel and electricity, and clothing and footwear. The increase in the prices for housing, fuel and electricity was primarily due to an increase in tariffs for electric energy and propane gas.

Inflation followed suit, dropping to 2.9% in September from 3.2% in August. Core consumer prices, which exclude energy and food, rose 0.1% month-on-month for the third consecutive month. Finally, core inflation inched down from 2.9% in August to 2.8% in September.

The Central Bank expects inflation to end 2017 at between 2.0% and 2.5% and 2018 at 2.0%. Panelists participating in the LatinFocus Consensus Forecast expect inflation to end 2017 at 2.8%, which is up 0.1 percentage points from last month’s projection. For 2018, the panel also expects inflation of 2.7%, unchanged from last month.

Author: Massimo Bassetti, Economist

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Peru Inflation Chart

Peru Inflation September 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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