Rising Inflation in Peru
RGE expects Peru’s inflation to increase by 0.28% m/m to 2.36% y/y in January (2.08% y/y in 2010) and core ex-food inflation to increase 0.03% m/m to 1.82% y/y (1.38% y/y in 2010). Higher food, energy and fuel prices, as well as strong domestic demand, likely exerted upward pressures on prices, despite stronger currency. The central bank’s target is 2% (+ / -1%).
Peru’s Inflation and Target Range (y/y)
Source: INEI, BCRP and RGE
Editor’s Note: This post is excerpted from a much longer analysis available exclusively to RGE Clients, LatAm Focus: Overvalued Brazilian Real Hurts Exports and Industrial Output
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