Peru: Inflation rises to over one-year high in November

Consumer prices in Metropolitan Lima increased 0.12% month-on-month in November, up from October’s 0.08% rise. November’s increase was largely the result of higher prices for food and beverages, rental housing, fuel and electricity—due to an increase in prices of residential fuels—and furniture, household goods and maintenance.

Meanwhile, inflation increased to an over one-year high of 2.2% in November from 1.8% in October. In October (the last month for which data is available), core consumer prices, which exclude energy and food prices, increased 0.1% from the previous month, matching September’s rise. Finally, core inflation rose from September’s 2.4% to 2.5% in October, a one-year high.

Peru Inflation Forecast

Panelists participating in the LatinFocus Consensus Forecast expect inflation to end 2019 at 2.3%, which is unchanged from last month’s projection. For 2020, the panel expects inflation of 2.4%.