PERU: Annual Inflation Rate Decreases To Lowest Level In Almost Three Years

(RTTNews) - The annual consumer price inflation in Peru decreased in June to the lowest level in almost three years and is nearing the center of the current target range of 1% to 3% set by the local central bank. According to the national statistics office, the annual inflation in Peru decreased from 3.04% in May to 2.73% in June - the lowest reading since August 2014, when it was at 2.69%. On a monthly basis, prices in Peru decreased by 0.16% in June, after falling 0.42% in May, recording the third straight month of deflation in the country. The decline was primarily caused by lower food prices. In previous months, some of the country's crops were negatively affected by heavy rains caused by the El Nino weather phenomenon. Excluding food and energy prices, Peru's annual inflation was at 2.38% - the lowest level this year -, while the monthly rate was at 0.06%.