Peru latest publications
Output fell in July by 11,7% YoY, a more moderate print than those observed in previous months, reflecting the gradual resumption of economic activity (phase 3 began in July).
The Board of the Central Bank decided to maintain the monetary policy rate at 0,25% in September. The Bank renewed its commitment to maintain a strongly expansive stance for a prolonged period and placed emphasis on its efforts to provide liquidity to the market.
September 3, 2020
Peru | Real-time analysis of the impact of COVID-19 on consumption (up to August 31)
Card consumption slowed down in the second half of August, but its level remains above that recorded in a similar period in 2019. The decline was in line with the return of mandatory confinement measures on Sundays and a normalization of pace of expenditure
Lima's Consumer Price Index fell 0.11% m/m in August, in line with our expectations and the market (Bloomberg Consensus: -0.08% m/m), the second lowest figure so far this year. With this result, year-on-year inflation decreased to 1.7%, compared to 1.9% the previous month.
August 20, 2020
Peru | Real-time analysis of the impact of COVID-19 on consumption (up to August 18)
The card-consumption indicator remains positive during the first weeks of August, although with a slowdown in the third week, in line with the return of mandatory confinement measures on Sundays.
In June, GDP went down by 18.1% YoY, reflecting the isolation measures implemented since mid-March in order to contain the spread of the coronavirus.
The Central Bank kept in August the policy rate at 0,25%, renewed its commitment to maintain a very ease stance for a prolonged period of time, and underlined its efforts to provide liquidity to the market.
At the beginning of August, the card-consumption indicator remains positive, sustained by spending on home goods and services.