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LIMA (Reuters) – Peru ended 2021 with inflation at 6.43%, the highest rate in 13 years and above the central bank’s target, the government said on Saturday.
South America, one of the world’s largest mineral producers, had an annual inflation target of between 1% and 3% last year.
According to the National Institute of Statistics and Information (INEI), consumer prices in the metropolitan area of Lima, which are seen as a national benchmark, were driven by high food, fuel, transport and energy prices in 2021.
Peru’s central bank chief Julio Velarde said in December that the rise in inflation was due to rising prices for imported goods and the depreciation of the local currency against the US dollar.
By 2022, the central bank expects Peru’s inflation to slow to 2.9%. It also sees 2.1% inflation in 2023.
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