Peru’s Inflation Increased Only 1.76% in 2017

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Inflation rates for 2017 are the lowest ones since 2009.

While the cities affected by the coastal phenomenon “El Niño” were the ones with higher inflation rates due to damages caused by torrential rains, the rest of the country remained very stable in terms of increases in the cost of living.

According to the National Insitute of Statistics and Informatics, the monthly average inflation rate was 0.11%. On the other hand, December was the month of 2017 with the highest inflation rate reaching 0.16%, most likely due to the political instability triggered by investigations done into President PPK and his potential impeachment.

Even with PPK staying in power, the economic impact was foreseen since investors may be a bit worried about investing in a country with such dramatic moments in state politics.

In the annual inflation rates of Peru there were four groups of consumption that affected the result: Leisure, Fun, Cultural Services and Education. Education rose 3.83% due to the increase in the pension of college education and basic non-state education; and Rent of Housing, Fuels, and Electricity that rose 3.0% due to a higher rate of potable water and domestic propane gas.

Also, there was an increase in Food and Beverages of 0.31% due to the increase in the price of the menu in restaurants, white beer, soft drinks and chicken eggs; and Other Goods and Services at 1.70% due to the rise in the price of toilet paper and cigarettes.

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(Source)

(Cover Photo Andina)

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Aris Sandrea

A native of Zulia, Venezuela. Aris joins linvinginperu after moving to Lima to work as a content creator. Bachelor’s degree in accountancy and 2 years of experience as a professional article writer and community manager. Watching movies and series, reading books and riding the bicycle is some of his preferred activities. Passionate about the idea of traveling the world to learn more about other cultures. Contact: aris.sandrea@gmail.com