Peru | Tracking consumption with real-time data in March 2023

Summary

BBVA Research's big data consumption index for Peru (inflation-adjusted spending with cards and cash withdrawals) slowed for the fourth consecutive month. In particular, in March, the index registered a contraction (of 2.8%), indicating that family spending is weakening.

Key points

• Key points:
• Card purchases maintained a share of 43% (around half were made via the online channel).
• By categories, expenses in Food (inside and outside the home) and in Education slowed down their YoY rate; expenses in Department Stores, Beauty Salons and those related to Transportation contracted YoY in March; spending in Health and Entertainment showed some improvement; expenses in Excursions and Air Tickets reduced their rate of expansion, while Accommodation maintained its contraction.
• In the first quarter of 2023, the BBVA Research Big Data Consumption Index for Peru showed lower YoY growth compared to that seen in the previous quarter.

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