Peru: Upside Inflation Surprise in June on Higher Food Prices

Peru's June headline inflation rose to 4.01% yoy, exceeding the central bank's target, primarily due to higher food prices. Despite the headline surprise, core inflation measures remain contained, supporting a steady policy outlook from the central bank.

Key Takeaways

• 1.June headline inflation in Peru rose to 4.01% yoy, exceeding the central bank's target band, driven by food price volatility.
• 2.Core inflation remains well-contained, and Goldman Sachs expects the central bank to maintain a wait-and-see stance.

Table of Contents

• Bottom Line
• Key Numbers
• Details
• Headline Inflation and Core Inflation Stabilized After Intense Energy Pressures in Previous Months
• Well-Behaved Core Inflation Pressures Excluding Transport Items
• Disclosure Appendix

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