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April CPI Registers Below Expectations

PERU
  • Reuters have published the usual prompt release of monthly April CPI data this morning, not scheduled on the Bloomberg terminal until 1600BST/1100ET.
  • Peruvian consumer price inflation fell 0.05% M/m in April, according to data published on Wednesday by national statistics agency INEI. The data is comfortably below the surveyed Bloomberg estimate of +0.25% and significantly below the March reading which saw Peru’s consumer prices rise by 1.01% in March.
  • This should pose downside risks to the annual surveyed estimate of 2.72% Y/y, and potentially strengthen the case for another rate cut at the May 09 policy meeting.

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