Fynsa
Inflation cannot be controlled with a magic wand; it is controlled by working every day to achieve this. Even when others do not cooperate.
The country is not only attracting a significant volume of visitors, but has also achieved a structural change in the profile of tourists. Peru is thus consolidating its position as a high-value destination, with an economic impact that defies political fragility.
The CPI rose 0.3% compared to the previous month, which was in line with our expectations, although slightly above market expectations. With this, the year-on-year variation remained at 3.4%, increasing expectations that the elusive 3.0% will soon be reached.
During the week, the third quarter National Accounts were published, which provide a more consolidated view of the country's recent growth figures. While on net these are good figures, they are not sustainable over time, or at least not without generating macroeconomic imbalances elsewhere.
Despite the political noise, the dollar has shown no major shocks in Peru during 2025, thanks to a favorable international environment and timely economic decisions.
In one of our last columns, we touched on one of the most relevant issues for the local economic situation: the labor market. The study published by the Central Bank and included in the September IPoM raised the debate on the impact of the increase in costs, but it is not the only important issue.
After a period marked by economic uncertainty, inflation and high interest rates, today there is a more stable scenario with a positive outlook for both buyers and investors.
The country faces a historic opportunity: to leave behind decades of fiscal populism and make way for a modern and competitive economy. But the road will not be easy.
