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Peru’s monthly inflation hits 26-year high in March -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: On August 31, 2018, people walked at the Surco market, Lima (Peru). REUTERS/Mariana Bazo

LIMA (Reuters – Peru’s Inflation Hits its Highest Level in More Than Two Decades in March, The government stated Friday. This was due to rising fuel prices and increased food prices in the conflict between Russia, Ukraine.

According to the Peruvian central banking’s historical data, consumer prices in Andean countries rose by 1.48% last month. This is the largest increase since February 1996 when 1.53% was recorded.

The government’s statistics agency reported that in the first quarter of 2022 consumer prices in Lima, which is considered to be the national benchmark, stood at 1.84%.

Also, the National Institute of Statistics and Information stated that Peru’s inflation for the last twelve months was 6.82%. That’s well beyond the central bank’s annual target of 1 to 3 percent.

South American’s number 2 country was the No. 2. producer, posted an annual inflation rate of 6.43% in 2021. It was the highest level for thirteen years.

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