Peru: Inflation rises to three-month high in September
October 1, 2012
In September, consumer prices for Metropolitan Lima rose 0.54% over the previous month, which was slightly above the 0.51% increase observed in August and exceeded market expectations of a 0.45% increase. The monthly jump reflected higher prices for food and beverages as well as for healthcare. As a result of the monthly increase, annual headline inflation rose from 3.5% in August to 3.7% in September, which represents the highest level since June. Inflation remains above the upper tolerance margin of the Central Bank's target of 2.0% plus/minus 1.0 percentage points. The Central Bank expects inflation to fall to 3.0% by the end of the year. For 2013, the Bank sees inflation falling further within a range of 1.5% and 2.5%.
Author: Ricardo Aceves, Senior Economist