Publications

In September, economic activity grew by 3.9% year-on-year, surpassing Bloomberg’s consensus forecast of 3.5%. The primary sector expanded by 5.2%, driven by mining and fishing, while the non-primary component grew by 3.5%, with notable contributions from construction, trade, and services.

The BCRP kept its policy rate at 4.25% in November, consolidating the pause initiated in October. This essentially neutral monetary policy stance is consistent with the benign outlook for prices and with economic activity around its potential.

Lima’s Consumer Price Index (CPI) fell 0.10% m/m in October. Despite the decline—driven by lower prices in communications, food, and energy—annual inflation remained virtually stable at 1.4% compared to September, within the Central Bank’s target range.

Presentation at the "Macroeconomics in Action" conference at Universidad del Pacífico. It addresses Peru’s economic outlook in a context of global change, highlighting external challenges, domestic growth drivers, and economic policy perspectives for the 2025–2026 period.

GDP grew 3.2% year-on-year in August, in line with market consensus (3.1%) but slightly below the 3.4% expansion recorded in July. The non-primary component grew 3.2%, while the primary sector expanded 1.8%.

The article explains how artificial intelligence transforms the economy by automating household and market tasks, creating value not captured by GDP. It calls for updated economic metrics to better measure well-being and productivity in the digital age.

The Big Data Private Consumption Index grew 12.0% YoY in September, accelerating for the second consecutive month (7.2% in August and 2.3% YoY in July).