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

Summary

The Big Data Private Consumption Index showed a marked slowdown in its year-over-year growth in June (3.0% compared to 15.6% in May).

Key points

• Key points:
• The slowdown reflects the year-over-year declines recorded in the last two weeks of the month, which coincide with the start of the extraordinary pension fund withdrawals in 2024, raising the comparison base.
• The macroeconomic environment remains favorable. Labor market conditions continue to strengthen, reflecting improvements in job quality, an increase in formal private sector employment, and a recovery in real wages. Moreover, inflation remains subdued at 1.7% in June, and continues to help preserve households' purchasing power.
• By expenditure components, June data show a deceleration in the year-over-year growth of expenditures on Entertainment, Tourism, Household Goods, Fashion and Beauty, and Food (including supermarkets and restaurants). In contrast, expenditures on Education, Health, and Transportation remained relatively stable compared to previous months.
• The Big Data Consumption Index sustained a strong expansion in the second quarter of the year (10.0% in Q2 2025 compared to 8.7% in Q1 2025).

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