Economics
Peru Inflation Unexpectedly Jumps as Near-Zero Rate May Not Last
- June consumer prices rise 0.52% m/m; increase 3.25% y/y
- Central bank no longer pledges to hold rates at 0.25% for long
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Peru’s inflation unexpectedly accelerated in June, led by food and household costs, after the central bank indicated that the country’s key interest rate may not remain at a record low for long.
Consumer prices rose 0.52% from the month prior, more than double the 0.2% increase forecast by analysts surveyed by Bloomberg. From a year ago, prices jumped 3.25%, the most in more than four years and above the upper ceiling of the target, according to data published on Thursday by INEI, the nation’s statistics bureau.