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Lima CPI Maintains Pressure On Central Bank

PERU
  • Peru Lima consumer prices rose 0.94% M/m in July above the median surveyed estimate of +0.73%.
    • Despite the fact this translated to a 8.74% Y/y increase in July which was below the prior reading of 8.81%, the print was way above the median estimate of an 8.42% advance, which is likely to keep pressure on the BCRP to continue with their tightening cycle on August 12.
  • Elsewhere, Peru’s Challhuahuacho communities begun protests against Las Bambas copper mine owned by China’s MMG after dialog broke down on Monday, according to Alex Farfan, who heads the Challhuahuacho Youth Federation.
    • Community members have started a “preventative strike,” Farfan said in a text message.

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