Economics
Peru’s Inflation Speeds Past Forecasts to Reach 24-Year High
- Consumer prices rose 1.48% m/m in March, 6.82% on the year
- Higher commodity prices, local strikes are adding to inflation
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Peru’s annual inflation reached its fastest pace in 24 years, surprising economists and posing yet another challenge for President Pedro Castillo, who’s facing a strike by truckers and farmers that is adding to local food costs.
Consumer prices in Lima rose 6.82% in March from a year earlier, the most since Aug. 1998, the national statistics bureau said on Friday. Prices climbed 1.48% from February, above the median forecast for a 0.92% increase in a Bloomberg survey of economists.