Latest reading: Inflation ticked up to 2.4% in July, following June’s 2.3%. Looking at the details of the release, prices...
Inflation in Peru
Consumer price inflation in Peru averaged 3.5% in the ten years to 2024, in line with the Latin America regional average of 10.8%. The 2024 average figure was 2.4%. For more information on inflation, visit our dedicated page.
Peru Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Peru from 2014 to 2024.
Source: Macrobond.
Peru Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 1.8 | 4.0 | 7.9 | 6.3 | 2.4 |
| Inflation (CPI, ann. var. %, eop) | 2.0 | 6.4 | 8.5 | 3.2 | 2.0 |
| Inflation (Core, ann. var. %, eop) | 1.8 | 3.8 | 6.5 | 4.4 | 2.6 |
| Inflation (WPI, ann. var. %, eop) | 1.6 | 13.6 | 7.0 | -1.0 | -1.4 |
Inflation declines to lowest level since August 2018 in August
Latest reading: Inflation eased to 1.1% in August, following July’s 1.7%. August's reading marked the weakest inflation rate since August 2018 and was near the lower bound of the Central Bank’s 1.0–3.0% target. The reading was primarily due to softer price pressures for recreation and entertainment, food and beverages, and clothing. In addition, the trend pointed down mildly, with annual average inflation coming in at 1.7% in August (July: 1.8%). Finally, consumer prices dropped 0.29% in August over the previous month, contrasting July's 0.23% rise. August's result marked the sharpest fall in prices since October 2023.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Peruvian inflation projections for the next ten years from a panel of 35 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Peruvian inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Peruvian inflation projections.
Want to get access to the full dataset of Peruvian inflation forecasts? Send an email to info@focus-economics.com.
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