Peru | Inflation surprised to the upside in September

The consumer price index rose 0,03%MoM and with this print YoY inflation fell down to 3,9%. We foresee inflation will show a strong resistance for additional declines in the remainder of 2015 as the foreign exchange keeps rising, albeit at a more moderate pace than in previous months, and prices of some goods and services reflect weather anomalies related to El Niño.

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