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Peru experiences highest inflation in past 12 years – Peruvian Institute of Economics

RIO DE JANEIRO, BRAZIL - Annual inflation in Peru reached 5.8%, the highest rate recorded in the last 12 months, according to a study by the Peruvian Institute of Economics (IPE). In a report prepared for the newspaper El Comercio, it was stated that the price increase in the basic food basket is due to local and global factors.

The increase in food prices is a global phenomenon. It is due to the high cost of products such as oil (73%), corn (33%), wheat (36%), and soybean oil (52%).

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