Peru: Inflation eases in September
October 1, 2013
Consumer prices for Metropolitan Lima increased 0.11% over the previous month in September. The print, which was significantly lower than the 0.54% registered in August, fell short of market expectations of a 0.30% increase. The rise was driven by price increases for house rentals, fuels and electricity, and for healthcare.
Annual headline inflation edged down from 3.3% in August to 2.8% in September. As a result, inflation fell back within the Central Bank's target of 2.0% plus/minus 1.0 percentage point.
The Central Bank's September inflation report indicated that it expects inflation to end both this year and next within a range of 1.5% to 2.5%. LatinFocus Consensus Forecast panelists expect inflation to end 2013 at 2.9%, which is up 0.3 percentage points from last month's projection. For 2014, the panel expects inflation to decline to 2.5%, which is up 0.1 percentage points from last month's estimate.