Peru | Tracking consumption with real-time data in September 2022

Summary

BBVA Research's big data consumption index (inflation-adjusted spending with cards and cash withdrawals) slowed significantly in the third quarter, despite an improvement in September.

Key points

• Key points:
• In September, the growth of card purchases stood out (22% YoY), maintaining its share in total spending (39%). Within card purchases, the online channel registered high growth again (40% YoY) and consolidated a higher share (45%; 20% in 2019).
• The deceleration of BBVA Research's Big Data Consumption Index for Peru in the third quarter of the year signals a moderation of private consumption in that period. This slowdown in household spending coincides with the deterioration of consumer confidence indicators, reflecting people’s discomfort with higher living costs.
• Compared to the previous year, the share of spending on restaurants, entertainment and tourism increased, while that of household goods and health care decreased.

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