Publications

Here are all of our publications listed chronologically. You can also find the publications relating to single geography under “Publications by geography” or narrow down your search using the “Advanced filter”.

Latest publications about Peru

Peru | Inflation surprised to the upside driven by food prices

March 2, 2026

Lima's CPI rose 0.69% m/m in February, well above consensus (0.23%). Annual inflation reached 2.2%, surpassing the target midpoint for the first time in over a year, driven by higher food prices, particularly poultry and vegetables, and a residential water tariff adjustment.

Peru | Positive Growth Surprise at the End of 2025

February 16, 2026

GDP grew 3.8% in December 2025, exceeding expectations and bringing full-year growth to 3.4%. The strength of the non-primary component (construction and trade) offset the weakness in the primary sector, which was affected by lower mining output.

Peru | BCRP keeps policy rate unchanged at 4.25%

February 13, 2026

In February, the BCRP kept the rate at 4.25% for the fifth straight month. This move, expected by the market, reflects a neutral stance with activity near potential and inflation converging to the midpoint of the target range. We expect the rate to stay at this level in the coming months.

Peru | Tracking consumption with real-time data in January 2026

February 4, 2026

The Big Data Private Consumption Index maintained strong growth; in January 2026 it increased by 18.3% YoY (19.3% in December and 16.7% in November).

Peru | Inflation begins to move closer to the midpoint of the target range

February 2, 2026

Lima’s CPI rose 0.10% m/m in January 2026, in line with consensus. Annual inflation reached 1.7%, still within the target range. The monthly increase was driven by higher food prices, while transport prices fell seasonally. Core inflation edged up to 2.0%.

Peru | The Central Bank Resumes Spot FX Market Intervention

January 19, 2026

After a five-year pause, the BCRP resumed direct intervention in November 2025 through dollar purchases in the FX spot market. The measure aims to mitigate episodes of excessive volatility in the sol, without altering the exchange rate trend or replacing the role of the market.

Peru | Sharp setback of primary GDP in November

January 15, 2026

GDP grew by 1.5% in November, below the market consensus (2.8%) and October’s outcome (4.0%). Primary GDP contracted by 5.5%, while non-primary GDP expanded by 3.3%.

Peru | No surprises, policy rate held at 4.25%

January 9, 2026

In January, the BCRP kept its policy rate at 4.25% for the fourth straight month. This neutral stance is consistent with an economy near its potential and inflation on target. We expect the policy rate to remain at this level in the coming months.

Peru | Tracking consumption with real-time data in December 2025

January 9, 2026

The Big Data Private Consumption Index accelerated again and grew by 19.3 % YoY in December (16.7 % in November, and 7.7 % in October).

Peru | Inflation closed 2025 at 1.5%, its lowest year-end rate in eight years

January 2, 2026

CPI rose 0.24% m/m in December. As a result, annual inflation closed 2025 at 1.51%, within the Central Bank’s target range and at its lowest level in eight years, reflecting a contained inflation environment.

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