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

Summary

The Big Data Private Consumption Index grew by 16.7% YoY in November, showing a strong acceleration compared to previous months (7.7% in October, 10.5% in September).

Key points

• Key points:
• The acceleration was consistent with a more favorable base of comparison (as the impact of 2024 pension withdrawals faded in the fourth quarter) and with the start of this year’s pension withdrawals (effective as of November 21).
• Household consumption continues to be supported by the solid performance of the labor market. Job creation and rising incomes have driven an expansion in the wage bill. In addition, the stable price environment (low inflation) has helped preserve the purchasing power of households’ rising labor income. The sustained improvement in consumer confidence and the acceleration of consumer credit are also contributing to stronger household spending.
• By components, November showed a broad-based acceleration across all categories, with the exception of Tourism, which continued to grow but at a slower pace. The sectors with the strongest gains were Food, particularly restaurant spending, Household Goods and Services, and Fashion and Beauty.

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