Peru’s annual inflation projected to decrease to 6.7% in June, says Finance Minister

Peru’s annual inflation rate has begun its decline and is forecasted to drop over one percentage point to 6.7% by the end of June, announced Alex Contreras, the Finance Minister, today.

The Minister noted that food prices’ upward pressures have started to weaken, which would help moderate inflation.

“We’re seeing inflation start to soften, and we anticipate a more notable slowdown in June. We estimate that annual inflation will decrease from 7.9% to 6.7%,” he stated.

Contreras, while speaking at a presentation for a new industrial park project in Ancon, north of Lima, also noted a visible recovery in the Peruvian economy.

He indicated that the country’s economic outlook has returned to optimism, as evidenced by Fitch Ratings’ ratification and strong investor interest.

The National Institute of Statistics and Informatics reported that annual inflation was 7.9% in May, slightly less than April’s 8.04%.

The Central Reserve Bank of Peru recently projected that June’s inflation would be near zero, suggesting a return to normal rates for the basic food basket in the latter half of the year.

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