Inflation in Peru

Peru Inflation | Economic News & Forecasts

Peru - Inflation

Inflation hits highest level since April 2017 in June

Consumer prices rose 0.52% from the previous month in June, picking up from the 0.27% increase recorded in May. June’s figure was mainly driven by rising food and beverage costs, and a rebound in housing price pressures, but was also aided by a marked depreciation in the sol during the past few months.

Inflation rose to 3.3% in June, above May’s 2.4% and marking the highest inflation rate since April 2017. As a consequence, annual average inflation rose to 2.2% in June (May: 2.1%). Lastly, core inflation rose to 2.0% in June, from May’s 1.8%.

Regarding the outlook, analyst at the EIU commented:

“We expect the higher inflation in the short term to be driven by currency depreciation caused by uncertainty regarding Mr Castillo's economic policies and fears about political instability. Higher commodity prices for imports, especially oil, are also likely to increase price pressures. Our inflation forecasts assume that the BCRP remains autonomous and raises rates to prevent a dramatic escalation of inflation.”

FocusEconomics’ analysts forecast inflation to end 2021 at 2.4%, up 0.1 percentage points from last month’s forecast, and end 2022 at 2.3%.

Peru - Inflation Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %)3.6  3.6  2.8  1.3  2.1  

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Peru Inflation Chart

Peru Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Peru National Statistical Institute and FocusEconomics calculations.

Peru Facts

Value Change Date
Bond Yield0.0-0.60 %Nov 08
Exchange Rate3.31-0.06 %Jan 01

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