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Annual CPI Confirmed As Dipping To 2.42%, Well Below Expectations

PERU
  • Bloomberg are now reporting the April inflation numbers, which were already flagged this morning as falling 0.05% M/m. This has translated into an annual figure of 2.42% Y/y, below the expected 2.72%.
    • LIMA APRIL CONSUMER PRICES RISE 2.42% Y/Y; EST. +2.72% (BBG)
  • With the data confirming annual inflation is now within the central bank’s target range (and trending towards target faster-than-expected), this potentially strengthens the case for another rate cut at the May 09 policy meeting.
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  • Bloomberg are now reporting the April inflation numbers, which were already flagged this morning as falling 0.05% M/m. This has translated into an annual figure of 2.42% Y/y, below the expected 2.72%.
    • LIMA APRIL CONSUMER PRICES RISE 2.42% Y/Y; EST. +2.72% (BBG)
  • With the data confirming annual inflation is now within the central bank’s target range (and trending towards target faster-than-expected), this potentially strengthens the case for another rate cut at the May 09 policy meeting.