Peru | Tracking consumption with real-time data in January 2022

Summary

In January, spending with cards and cash withdrawals (BBVA Research's big data consumer index) increased 10.5% compared to the same month in 2020 (5.5% compared to January 2021).

Key points

• Key points:
• Spending growth was supported by: (i) the gradual recovery of the economy and employment, (ii) more confidence to mobilize due to vaccination progress, despite the third wave of contagions.
• By component, in January 2022, card purchases grew 65% over January 2020, while withdrawals declined by 8%.
• By purchase channel, card purchases through the online channel had a slight slowdown, reaching 38% of total purchases in January (pre-pandemic: 20%).
• The BBVA consumption index (big data) indicates that, in January 2022, household consumption continued to grow (relative to 2021), but at a slower rate than that observed in the 4Q21.

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