Peru’s YoY inflation in May rose only marginally to 1.68% from 1.65%, a smaller rise than expected (see our Peru inflation chart pack for more details). All items ex-food and fuels saw a decline in YoY inflation to 1.79% from 1.90%. Overall, the CPI data indicates inflation remains well behaved and in line with pre-Covid seasonal norms.
For more, including market takeaways, please see full note.