Peru Inflation October 2019


Peru: Inflation stable in October

November 8, 2019

Consumer prices in Metropolitan Lima rose 0.11% over the previous month in October, following September’s 0.01% month-on-month uptick. October’s increase was largely the result of higher prices for transport, higher housing rental costs and rising prices for fuels and electricity, which more than offset lower prices for food and beverages.

Meanwhile, inflation was unchanged at September’s 1.9% in October, thus remaining below the midpoint of Central Bank's target range of 2.0% plus or minus 1.0 percentage points. In October, core consumer prices, which exclude energy and food prices, increased 0.1% from the previous month, matching September’s uptick. Finally, core inflation in October came in at September’s 2.3%.

Panelists participating in the LatinFocus Consensus Forecast expect inflation to end 2020 at 2.2%, 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 Chart

Peru Inflation October 2019 2

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

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