Peru Cites Lowest Inflation, Lima at 4.55%
Julio Velarde says Peru has had the lowest inflation in Latin America this century. Lima prices still rose 4.55% in the year to September, above target. The post Peru Cites Lowest Inflation, Lima at 4.55% appeared first on The Rio Times .
Peruvian central bank president Julio Velarde has stated that Peru has recorded the lowest inflation in Latin America this century, according to reports from Lima-based outlets Infobae and Gestión. This claim was made during a seminar on "Pathways to Resilience: Success Stories in Reform and Partnership" at the International Monetary Fund (IMF) and World Bank annual meetings in Bangkok.
Velarde highlighted several factors contributing to Peru's low inflation, including the central bank's autonomy established in the 1992 organic law, the country's adoption of a flexible exchange rate, and explicit inflation targets since 2001. Despite Peru's overall inflation rate of 4.55% in 2023, the core inflation, excluding volatile items, has remained below the US inflation rate over the century.
However, it should be noted that Peru's inflation rate of 4.55% is higher than the US rate of 3.7% and above the bank's target range of 1% to 3%. Velarde has previously made similar claims regarding Peru's inflation, and the bank projects that inflation will return to the target range and settle near 2% by the end of 2027.
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
