Macchu Picchu Peru

Peru Inflation February 2024

Peru: Inflation rises in February

Inflation came in at 3.3% in February, up from January’s 3.0%—which had marked the lowest inflation rate since May 2021. The result was largely driven by faster growth in prices for recreation and entertainment. In addition, prices for housing and utilities dropped at a softer pace. Moreover, prices for clothing grew at a faster pace.

Annual average inflation fell to 5.4% in February (January: 5.8%).

Lastly, consumer prices rose 0.56% over the previous month in February, above January’s 0.02% rise.

Commenting on the release, Itaú Unibanco’s Julio Ruiz stated:

“While inflation rebounded in February, most of the upside pressure came from volatile food items and core inflation stood slightly above the upper bound of the central bank’s target range. Despite the surprise, we still expect inflation to end the at 2.8%.”

Meanwhile, Creditcorp Capital’s Jose Luis Nolazco commented:

“We expect that in March annual inflation will decrease and be within the target range because inflation in March 2023 was very high.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest