Peru Inflation April 2016

Peru

Peru: Inflation remains stable in April

May 1, 2016

Consumer prices for Metropolitan Lima remained virtually unchanged in April, increasing only 0.01% over the previous month, which was below the 0.60% rise registered in March and below the 0.14% increase expected by market analysts. While prices for eggs and meals consumed in restaurants increased in April, prices for potatoes, electricity and poultry decreased. April’s monthly increase was the lowest in 17 months.

Inflation eased from 4.3% in March to 3.9% in April and remained above the upper limit of the Central Bank’s target of 2.0% plus/minus 1.0 percentage points for the twelfth consecutive month.

The core consumer price index, which excludes volatile items such as fresh food and fuels, rose 0.2% month-on-month in April (March: +0.7% month-on-month). Finally, core inflation fell from March’s 4.2% to 4.0% in April.

The Central Bank indicated that it expects inflation to be between 3.0% and 3.5% in 2016 and between 2.0% and 2.2% in 2017. Panelists participating in the LatinFocus Consensus Forecast expect inflation to end 2016 at 3.4%, which is unchanged from last month’s projection. For 2017, the panel expects inflation of 2.9%.


Author: Marlène Rump, Senior Data Analyst

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Peru Inflation April 2016

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


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