Inflation in Peru
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 |
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: Economic activity growth slows from May’s record high in June
July 15, 2021
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Peru: Merchandise exports rise at a meteoric rate in May
July 8, 2021
Merchandise exports soared 139.2% in annual terms in May, edging up from April’s 136.3% surge and thus marking the strongest increase in at least 30 years.
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Peru: Inflation hits highest level since April 2017 in June
July 8, 2021
Consumer prices rose 0.52% from the previous month in June, picking up from the 0.27% increase recorded in May.
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Peru: Business sentiment falls further into pessimistic territory in June
July 8, 2021
Business confidence regressed to 39.5 in June, down from 44.8 in May and marking a ten-month low.
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Peru: Central Bank holds rates at July meeting; moderates dovish tone further
July 8, 2021
At its 8 July meeting, the Central Bank of Peru held its key policy interest rate at 0.25%, as widely expected by market analysts.
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