Peru’s central bank expects the country’s inflation rate to be higher in July, which saw deflation.
“The GDP figures for May are likely to be negative,” Adrian Armas, head of the Peruvian central bank’s economic studies unit, said.
Earlier this week, Peru’s central bank kept its interest rate steady at 7.75% for the sixth time in a row, highlighting that inflation remains above its target.
Peru’s annual inflation rate slowed to 6.46% in June, with its monthly rate falling into the negative realm for the first time in nearly two years, according to Reuters.
Armas said he maintained his forecast for annual inflation to reach 3% by the end of 2023.
