Peru: Inflation slows in March
April 1, 2016
Consumer prices for Metropolitan Lima increased 0.60% in March over the previous month, which was above the 0.17% rise registered in February and slightly below the 0.66% increase expected by market analysts. Prices for education, which consists of tuition fees for primary school up to university, increased by 3.29%, driven by the start of the academic year in March. Meanwhile, prices for transport and communication fell.
Inflation eased from 4.5% in February to 4.3% in March and remained above the upper limit of the Central Bank’s target of 2.0% plus/minus 1.0 percentage points for the eleventh consecutive month.
The core consumer price index, which excludes volatile items such as fresh food and fuels, rose 0.7% month-on-month in March (February: +0.6% month-on-month). Finally, core inflation fell from February’s 4.4% to 3.6% in March.