Peru Inflation Hits 4.07% in July as Food Prices Outpace Utility Relief
Updated
Updated · Finimize · Aug 1
Peru Inflation Hits 4.07% in July as Food Prices Outpace Utility Relief
3 articles · Updated · Finimize · Aug 1
Summary
Lima consumer prices rose 0.29% in July, pushing annual inflation to 4.07% and keeping Peru above the central bank’s 1% to 3% target range.
Food and non-alcoholic beverages drove the increase, climbing 0.67% on higher chicken, egg, fruit and vegetable prices, while holiday demand lifted transport 0.20% and restaurants and hotels 0.18%.
Electricity tariffs and domestic gas prices offered some relief: the housing, water, electricity and gas category fell 0.12% after a new electricity rate structure took effect on July 4.
July’s monthly rise came in just below the 0.30% Reuters poll median, but the mix of firmer food and service costs suggests underlying price pressure may stay sticky and limit room for near-term rate cuts.