Peru's central bank held its rate at 4.25% for an eleventh straight month as annual inflation rose to 4%, above target. El Niño and oil are the risks.
Key Facts
—The decision. On 9 July the central bank held its benchmark rate at 4.25%, the eleventh straight month at that level.
—The inflation. Annual inflation rose from 3.9% in May to 4% in June, above the bank’s target band of 1% to 3%.
—The cause. The overshoot traces mostly to fuel-price rises in March and April and their knock-on effect on transport costs.
—The underlying figure. Stripping out transport, core inflation was 1.6%, below 2% since April last year.
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