Inflation in Peru, June 2022

Consumer prices rose 1.19% month-on-month in June, compared with a 0.38% rise in May. Based on the details of the release, transport and communications prices rose at a faster pace in June compared to the previous month, and price pressure on food and beverages increased.

Inflation in June was 8.8% compared to 8.1% in May. June resulted in the highest inflation rate since July 1997. Average annual inflation rose to 6.3% in June (May: 5.8%). Finally, core inflation rose to 5.8% in June from 5.5% in the previous month.

FocusEconomics experts predict inflation at the end of 2022 at 5.8%, which is 0.6 percentage points higher than last month’s estimate, and at 3.3% in 2023.