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

Summary

In May, BBVA Research's big data consumption index (inflation-adjusted spending with cards and cash withdrawals) increased 8,0% compared to the same month in the previous year (19.0% YoY in April).

Key points

• Key points:
• Within total spending, card purchases accounted for 39%, while cash withdrawals represented 61%. Within card purchases, the use of the online channel maintained a share of 43% (20% in 2019).
• BBVA Research's consumption indicator suggests that, in the second quarter of 2022, private consumption continued to grow (relative to 2021). April-May growth was similar to that observed in the first quarter of 2022.
• We expect private consumption will draw support from the liberalization of pension funds and CTS deposits in June and 3Q22, although with a lower impact than last year. On the other hand, higher inflation will continue to affect the purchasing power of households.

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