Peru’s Inflation Slows More Than Forecast From 13-Year High

Peru’s inflation slowed more than expected in January as transportation prices fell, providing a welcome relief to the central bank which faced in 2021 the fastest rise in prices in 13 years, Bloomberg News reported. Annual inflation slowed to 5.68%, compared with the 5.99% median forecast of analysts surveyed by Bloomberg. Consumer prices increased 0.04% from December, the national statistics bureau reported Tuesday. Prices for food, energy and fuel surged in Peru and across Latin America last year as the pandemic and lockdowns spurred supply-chain snarls and shortages. Peru’s central bank, like regional peers, has mounted an aggressive monetary tightening cycle by raising its key rate 275 basis points since August to 3%. The central bank, which targets inflation of 2%, plus or minus one percentage point, meets next week. Read more.