Peru inflation accelerates to 0.33pc in September

LIMA : Inflation in Peru accelerated to 0.33 percent in September from August, topping market expectations, due to a r

Published October 1, 2011 Updated October 1, 2011 02:39pm

1 min

By Imad Uddin

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Economists polled by Reuters expected prices to have risen 0.24 percent during the month.

Inflation in the 12 months through September totaled 3.73 percent, above the ceiling of the central bank's annual target range of 1 to 3 percent.

Accumulated inflation from January through September stood at 3.68 percent.

The inflation rate in August was 0.27 percent, well below July's rate, when seasonal factors pushed inflation to 0.79 percent, the highest result since March 2008.

"September inflation was influenced by higher prices for fuel for transportation, mainly gasoline and oil," the national statistics agency (INEI) said in a statement.

Peru's central bank raised rates five times earlier this year to curb inflationary expectations, but held its benchmark rate steady for the past four months at 4.25 percent after food prices showed more stability and global growth slowed.

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