Posted 10/1/2023, 3:18:00 PM
Peru Inflation Slows to Over 2-Year Low but Remains Above Central Bank's Target
- Annual inflation in Peru slowed to 5.04% in September, the lowest in over 2 years
- Consumer prices still above the central bank's 2% target rate
- Monthly inflation was just 0.02% in September, well below the 0.38% increase in August
- Central bank has kept interest rates unchanged at 7.75% since August 2021 to tame inflation
- Price rises driven by transportation, restaurants/hotels, and miscellaneous goods/services
- Peru grappling with poor weather, lower mining investment, and past anti-government protests