Peru Inflation March 2018

Peru

Peru: Inflation reaches fresh multi-year low in March

April 3, 2018

Consumer prices in Metropolitan Lima increased 0.49% in March on a monthly basis, above February’s 0.25% rise. March’s increase was mainly the result of higher prices for education and culture; and for rental housing, fuels and electricity. On the other hand, lower prices were recorded for transport and communication. The increase in the prices for the housing, fuel and electricity component was again due to an increase in tariffs for residential electricity.

Meanwhile, inflation continued to drop. It fell to 0.4% in March from 1.2% in February, the lowest print since December 2009. In March core consumer prices, which exclude energy and food, jumped 0.8% from the previous month, well above February’s subdued 0.1% rise. Finally, core inflation remained stable at February’s 2.2%.

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, Economist

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Peru Inflation March 2018

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


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