Peru Inflation January 2018


Peru: Inflation reaches fresh multi-year low in January

February 12, 2018

Consumer prices in Metropolitan Lima increased 0.13% in January on a monthly basis, below December’s 0.16% rise. January’s increase was mainly the result of higher prices for food and non-alcoholic beverages and rental housing, fuels and electricity. On the other hand, lower prices were recorded for transport. The increase in the prices for housing, fuel and electricity was again due to an increase in tariffs for residential electricity and potable water.

Inflation, subsequently, continued to moderate. It dropped to 1.3% in January from 1.4% in December, the lowest since May 2010. In January core consumer prices, which exclude energy and food, increased 0.2% from the previous month, up from December’s flat reading. Finally, core inflation remained unchanged at December’s 2.3% in January.

Peru Inflation Forecast

The Central Bank expects inflation to end 2018 at 2.0%. Panelists participating in the LatinFocus Consensus Forecast expect inflation to end 2018 at 2.8%, which is up 0.1 percentage points from last month’s projection. For 2019, the panel expects inflation of 2.7%.

Author: Massimo Bassetti, Senior Economist

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Peru Inflation Chart

Peru Inflation January 2018 1

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

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