Peru | Inflation does not subside…

Summary

The Consumer Price Index for the city of Lima increased 0.52% MoM in November. This is mainly a result of the increase in food prices (fish and chicken), restaurant menus and an adjustment in electricity rates.

Key points

• Key points:
• In YoY terms, inflation accelerated slightly in November, reaching 8.4% (October: 8.3%).
• Inflation excluding food and energy, a trend measure of price changes, decelerated from 0.5% in October to 0.2% in November (but remained at 5.7% YoY).
• In the following months, we expect inflation to decrease slowly due to higher observed persistence.
• The Central Bank will probably continue to tighten the monetary position some more, despite the loss of dynamism in economic activity.

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