Peru Annual Inflation at 2023-Highs

The annual inflation rate in Peru's capital, Lima, edged up to 4.07% in July 2026 from 4.01% in the previous month, reaching its highest level since October 2023. The increase was mainly driven by faster price growth for food (3.5% vs 3.3%), education (3.6% vs 3.4%), furnishings and household equipment (3.2% vs 3.0%), housing and utilities (1.3% vs 1.2%), recreation and culture (2.2% vs 2.0%), clothing and footwear (1.5% vs 1.4%), and health (1.3% vs 1.2%). Meanwhile, deflation for communication and information eased (-2.6% vs -4.6%), while inflation for restaurants and hotels remained unchanged at 4.2%. In contrast, transport inflation moderated slightly (14.3% vs 14.6%). On a monthly basis, consumer prices rose 0.29%, accelerating from a 0.23% increase in June.

The annual inflation rate in Peru’s capital, Lima, accelerated slightly to 4.01% in June 2026 from 3.9% in the previous month. Still, it remained above the central bank's 1%-3% target range. Prices accelerated primarily for food & non-alcoholic beverages (3.32% vs 2.88% in May), furnishings & household equipment (3.00% vs 2.81%), restaurants & hotels (4.15% vs 3.98%), and housing & utilities (1.21% vs 1.04%), boosted by adjusted residential electricity rates. Meanwhile, inflation moderated for transportation (14.63% vs 15.10%) and recreation & culture (2.01% vs 2.07%), while prices declined for alcoholic beverages & tobacco (-0.45% vs 0.05%). On a monthly basis, the CPI rose 0.23%, rebounding from a 0.1% fall in May, due to higher prices for food, furnishings, and restaurants.

The annual inflation rate in Peru’s capital, Lima, eased to 3.9% in May 2026 from 4.01% in the prior month, which was the steepest since October 2023. Still, it remained above the central bank's 1%-3% target range for the third straight month. Prices slowed primarily for food & non-alcoholic beverages (2.88% vs 4.16% in April); alcoholic beverages & tobacco (0.05% vs 0.59%) and furnishings & household equipment (2.81% vs 2.96%). Conversely, prices advanced further for some CPI items, including transportation (15.10% vs 15.02%); restaurants & hotels (3.98% vs 3.54%) and recreation & culture (2.07% vs 1.79%). At the same time, housing & utilities prices rose by 1.04%, after decreasing by 0.22% previously, on the back of adjusted residential electricity rates. On a monthly basis, the CPI fell by 0.16%, the first decrease since October 2025, reversing a 0.52% rise in April, mainly due to lower prices in food (-1.69%) and transport (-0.19%).