Peru | Tracking consumption with real-time data in December 2024

Summary

The Big Data Private Consumption Index continued to decelerate its year-over-year growth, registering 6.4% in December. This slowdown reflects the waning impact of pension fund withdrawals by households, which had provided a temporary boost through October.

Key points

• Key points:
• The slowdown in the Big Data Private Consumption Index reduced year-on-year growth from 8.4% in November to 6.4% in December. However, certain conditions for household spending have improved: inflation remains low and stable, while employment and wages are showing positive trends.
• By expenditure components, December showed an almost generalized moderation in year-over-year growth, with notable slowdowns in Entertainment, Fashion and Beauty, and Household Goods. Only spending on Tourism and Residential Public Services exhibited a more positive performance.
• With December's result, the Private Consumption Big Data Indicator recorded an 8.8% year-over-year growth in the fourth quarter of 2024, lower than the previous quarter's rate (3Q24: 10.4%).

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