Peruvian Consumer Prices Rose 4.7% in 2011, Government Says

Peruvian consumer prices rose 4.7 percent in 2011, the fastest pace in three years, the national statistics agency said.

Inflation was forecast to accelerate to 4.8 percent last year, according the median estimate of nine analysts surveyed by Bloomberg. Prices increased 0.27 percent in December from the previous month, compared with an estimate of 0.3 percent.

Inflation, which outpaced the central bank’s target range of 1 to 3 percent, was spurred by fuel prices, which jumped 14 percent, and food and clothing, which increased 8 percent and 4.8 percent, respectively, the agency said yesterday in an e-mailed statement.

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