Peru | Inflation goes down in October but we expect this to be only transitory

Summary

The consumer price index rose 0,14%MoM and with this print YoY inflation fell down to 3,7%. We foresee there is not much room for further declines. Inflation will probably move up in the coming months, driving inflationary expectations in the same way. Hence, we cannot cast off a policy rate hike in the summer.

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