Peru latest publications
Output grew 58.5% YoY in April, lower than expected by the market consensus (60%). This result hides a low year-on-year comparison base due isolation measures were in force in April 2020.
The Board of the Central Bank decided to maintain the monetary policy rate at 0,25% in June. The Bank will maintain a strongly expansive stance but removed mention of it being for a prolonged period.
The consumption growth rates in May were lower across all countries except Mexico due to the Covid-19 impact starting to improve in May 2020.
The Lima Consumer Price Index (CPI) rose 0.27% MoM in May (-0.10% in April) due to higher food prices. Inflation in year-on-year terms was 2.4%.
In May, total card consumption grew 51% in real terms, compared to the same month of 2019. In addition, the share of the on-line channel in total purchases was 41%, while spending on food, health and household goods and services continues to show a strong expansion.
Output grew 18.2% YoY in March, higher than expected by the market consensus (15.8%). This result hides a low year-on-year comparison base, since isolation measures were introduced in March 2020 and they were much tighter than the current ones.
May 14, 2021
Peru | Central Bank will maintain strongly expansive policy stance for a prolonged period
The Board of the Central Bank decided to maintain the monetary policy rate at 0,25% in May. The Bank renewed its commitment to maintain a strongly expansive stance for a prolonged period and reaffirmed its message of absence of inflationary pressures.
The consumption acceleration continued during April across all countries and sectors, reaching its highest peak with respect to last year lockdowns.