Inflation picks up in January from December

Latest reading: Consumer prices in Lima were up 1.7% on a year-on-year basis in January, following a 1.5% increase in the prior month. January's reading was the strongest since January 2025 but was within the Central Bank’s 1.0–3.0% target range. Relative to the prior month's figures, there were higher price pressures for food and beverages (+2.1% in annual terms vs +1.7% in December) and transport (+1.8% vs +1.1% in December). In contrast, price pressures reduced for housing and utilities in January (-2.5% vs -2.3% in December). Finally, the variations in clothing and recreation and entertainment were the same as in the prior month (+1.4% and +2.0%, respectively). Lastly, consumer prices in Lima were up 0.10% in January on a month-on-month basis, following a 0.24% increase in the previous month.

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