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.
Author: Carl Kelly, Economist