Peru Inflation


Peru: Inflation picks up in October

November 1, 2014

Consumer prices for Metropolitan Lima in October increased 0.38% over the previous month, which followed the 0.16% rise registered in September. The print overshot market expectations of a 0.18% increase. The increase was broad-based, as all eight components of the index gained ground in October. The largest expansions were recorded in housing and utilities, as well as in food and beverages.

Annual headline inflation increased from 2.7% in September to 3.1% in October, which marks the highest rate in three months. As a result, inflation pushed just above the upper limit of the Central Bank’s target of 2.0%, plus/minus 1.0 percentage point.

In its July quarterly inflation report, the Central Bank indicated that it expects inflation of between 2.5% and 3.0% in 2014 and between 1.5% and 2.5% in 2015. LatinFocus Consensus Forecast panelists expect inflation to end 2014 at 2.7%, which is unchanged from last month’s projection. For 2015, the panel expects inflation of 2.5%.

Author:, Economist

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Peru Inflation Chart

Peru Inflation October 2014

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

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