Latest news with #INEI
Reuters
15-04-2025
- Business
- Reuters
Peru economy undershoots expectations in February
LIMA, April 15 (Reuters) - Peru's economy grew 2.68% in February, data from the nation's INEI statistics agency showed on Tuesday, falling short of estimates despite most sectors logging growth. The February data landed below the 3.5% estimate of analysts polled by Reuters. The Andean nation's key mining and energy sector shrank 1.36%, with utilities and telecommunications services also contracting. Peru is the world's third-largest copper producer. The farming and the smaller fishing sectors advanced 4.35% and 24.64%, respectively. Manufacturing industry expanded by 1.94% and transportation was up 5.66%. The central bank's top economist said last week that the nation's economy would face a moderate hit from newly implemented tariffs from the U.S. Economist Adrian Armas said the Peruvian economy likely grew around 4% in the first quarter.
Reuters
01-04-2025
- Business
- Reuters
Peru consumer prices up in March for second month in a row
LIMA, April 1 (Reuters) - Peru's consumer prices rose in March for the second month in a row, but registered an annual slowdown, data published on Tuesday by national statistics agency INEI showed. Consumer prices increased by 0.81% in March, after a 0.19% rise in February. Annual inflation fell to 1.28% in March, well below the mid-range of the Peruvian central bank target of 1% to 3%. Inflation for the 12 months ending in March was the lowest since September 2018. March prices rose mainly due to education, up 3.40%, followed by food and non-alcoholic beverages, gaining 1.85%, and restaurants and hotels, up 0.26%. Prices in the transport segment fell 0.25%, INEI added. Inflation in the world's third-largest copper producer is expected to be around 2% for 2025, according to the central bank's latest estimate, after closing 2024 at 1.97%.
Asharq Al-Awsat
15-03-2025
- Business
- Asharq Al-Awsat
Peru's Economy Grows 4.07% Year-on-year in January
Peru's economy grew 4.07% in the first month of 2025, data from the nation's INEI statistics agency showed on Saturday, in line with central bank and analysts' forecasts, as nearly all sectors logged growth with the exception of the financial sector. The January data landed a touch above the 4% estimate of analysts polled by Reuters, but below the 4.85% recorded in last month of last year. The Andean nation's key mining and energy sector advanced 1.4%, while farming and the smaller fishing sector advanced 3.2% and 23.5% respectively. Manufacturing industry expanded by 5.5% and transportation up 7.9%, while public administration and defense and construction both logged growth of over 4%. The financial sector contracted 0.35% as commercial banks issued fewer loans. In a call on Friday, the top economist at Peru's central bank had said that economic activity was developing better than expected, as the economy bounced back from a recession it entered in 2023. The bank predicted a limited impact from US tariffs, saying Peru's agricultural produce complemented North American supplies when they are not able to produce locally for seasonal reasons, and copper exports can be sold to many other markets. Late last month, Peru's economy minister predicted the economy would expand 4% this year - up from 3.3% growth in 2024 and a 0.4% contraction a year earlier - ranking it among the fastest-growing economies in Latin America.
