Inflation in Peru
Peru - Inflation
Inflation drops slightly in December
Consumer prices in Metropolitan Lima increased 0.05% in December over the previous month, softening from November's 0.52% rise. December’s moderation was mainly caused by falling food and beverage prices.
Inflation dropped to 2.0% in December from 2.1% in November. However, the trend was unchanged for the sixth month running, with annual average inflation coming in at 1.8% in December. Lastly, core inflation was ticked up marginally, coming in at 1.8% in December from 1.7% in November.
Regarding the December print, and looking ahead to 2021, Diego W. Pereira and Lucila Barbeito, economists at JP Morgan, commented:
“The December 2020 CPI report proved our view on the November’s upside CPI print correct: it was indeed a temporary event obeying to seasonal and supply disruptions for food prices. But it also brought higher than expected core inflation, which we believe should correct in January and February. Therefore, we maintain our base case for relatively stable headline inflation throughout 2021. We expect headline inflation to average less than 20bp per month in 1H21, and reaching 1.9%oya by December 2021.”
FocusEconomics’ analysts forecast inflation to end 2021 at 1.8%, up 0.1 percentage points from last month’s forecast, and end 2022 at 2.1%.
Peru - Inflation Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Inflation Rate (CPI, annual variation in %) | 3.6 | 3.6 | 2.8 | 1.3 | 2.1 |
Peru Inflation Chart
Source: Peru National Statistical Institute and FocusEconomics calculations.
Peru Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.0 | -0.60 % | Nov 08 |
| Exchange Rate | 3.31 | -0.06 % | Jan 01 |
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Economic News
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Peru: Central Bank keeps rates unchanged in January
January 14, 2021
At its first meeting of the year on 14 January, the Central Bank of Peru maintained its key policy interest rate at the record low of 0.25% for the ninth meeting in a row.
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Peru: Economic activity records softest contraction since February in November
January 14, 2021
Economic activity dropped 2.8% year-on-year in November (October: -3.8% yoy).
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Peru: Business sentiment falls into pessimistic territory in December
January 7, 2021
Business confidence dropped to 49.5 in December, down from November’s 52.8 and ending a run of seven consecutive months of improving sentiment.
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Peru: Merchandise exports increase at a softer rate in November
January 7, 2021
Merchandise exports edged up 2.4% in annual terms in November (October: +9.9% year-on-year) marking the third consecutive month of growth.
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Peru: Inflation drops slightly in December
January 4, 2021
Consumer prices in Metropolitan Lima increased 0.05% in December over the previous month, softening from November's 0.52% rise.
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