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Peru cenbank says weak demand not driving inflation's retreat
November 10, 2017 / 6:04 PM / 8 days ago

Peru cenbank says weak demand not driving inflation's retreat

LIMA, Nov 10 (Reuters) - The recent sharp drop in Peru’s inflation rate was not driven by weak demand but by a faster-than-expected normalization of food supplies that had been disrupted by severe flooding early this year, the central bank said on Friday.

Adrian Armas, the chief economist at the bank, added on a call with reporters that the market’s expectation for inflation of about 2.8 percent in 12 months was “well above” the bank’s forecast of 2 percent. (Reporting By Mitra Taj and Teresa Cespedes)

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