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

Summary

In July, BBVA Research's big data consumption index (inflation-adjusted spending with cards and cash withdrawals) stagnated (YoY growth 0.0%).

Key points

• Key points:
• According to this indicator, private consumption started off weak in the third quarter of the year (July), after registering in the second quarter a YoY growth similar to that of the first quarter. Private consumption is expected to find support, in the following months, in the release of private savings funds (AFPs and CTS).
• Spending on goods related to food for domestic consumption, health and furniture fell with respect to the same period of the previous year.
• Spending on excursions and travel services grew moderately, while spending on lodging decreased.
• Spending on services related to education and entertainment (especially shows) accelerated.
• Within total spending, card purchases accounted for 39%, while cash withdrawals represented 61%. Within card purchases, the use of the online channel has a share of 45% (20% in 2019).

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