Peru Inflation January 2020

Peru

Peru: Inflation stable in January

February 7, 2020

Consumer prices in Metropolitan Lima rose 0.05% over the previous month in January, down from December’s 0.21% increase. January’s rise was chiefly the result of higher prices for education and culture and for food and beverages, which more than offset lower prices for transport and communications.

Meanwhile, inflation was unchanged at December’s 1.9% in January, thus remaining below the midpoint of Central Bank's target range of 2.0% plus or minus 1.0 percentage points. In January, core consumer prices, which exclude energy and food prices, increased 0.2% from the previous month, up from December’s 0.1% uptick. Finally, core inflation in January came in at 2.2%, matching December’s reading.

Panelists participating in the LatinFocus Consensus Forecast expect inflation to end 2020 at 2.1%, which is unchanged from last month’s projection. For 2021, the panel expects inflation of 2.3%.


Author: Massimo Bassetti, Economist

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Peru Inflation January 20 20

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


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