The president of the Central Reserve Bank (BCRP), Julio Velarderevised upwards Peruvian inflation in 2023 and placed it close to 3.3%, above the levels forecast in previous projections, and assured that the target range of 1% – 3% will be reached in the first quarter of 2024.
In the update corresponding to June, the head of the central bank stated that, in effect, the Consumer Price Index (CPI) “has been slowly falling”, but there have been two unexpected shocks that should be reversed in the second semester such as bird flu.
“We have adjusted our inflation projection, partly due to what has already happened in the first quarter, and we are expecting to close the year at 3.3% and reach the goal in the first months of next year, that is, below the 3%,” he said.
In this sense, Velarde said that there will probably be an “important correction” for chicken prices in June. Not so with the egg, which he explained will take a bit longer, but which will also “completely correct itself this year.”
“Core inflation is more at 5.1%, and we can compare it with that of other countries. Rather, energy and food inflation is still high at 11.3%, but this has been everywhere,” he said.
In the same way, the head of the BCRP reported that, for the month of June, “inflation close to zero and perhaps even negative” is expected, which will help the prices of the basic basket return to their usual course.
“In 2024, we are going to have inflation of 2.4%. It is important to note that inflation without food and energy will be 2.3% this year, and 2.4% next year,” he remarked.
Source: Larepublica
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