Inflation Peru 2023
Average inflation: 6.5%
Current Inflation
Inflation is very high at 6.5%, far above the ECB target.
Peak and Trough
The highest inflation was in February at 9.0%. The lowest inflation was in December at 3.4%.
- Highest month
- February: 9.0%
- Lowest month
- December: 3.4%
- Difference
- 5.6 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Core inflation with an average of 5.9%. The lowest price increase was in Energy with an average of -4.1%.
- Highest increase
- Core inflation: 5.9%
- Lowest increase
- Energy: -4.1%
Historical Context
Current inflation is 1.8% higher than the 5-year average of 4.7%.
- 5-year average
- 4.7%
- 10-year average
- 3.8%
- All-time high (2022)
- 8.3%
- All-time low (2018)
- 1.5%
Trend
Inflation shows an upward trend. Compared to 2022, inflation has risen by -1.8 percentage point.
- Change vs. previous year
- -1.8 percentage points
- Largest monthly swing
- December: -5.2 percentage points
ECB Target
Inflation is 4.5% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €106.50 next year at this inflation rate.
Multi-year trend
Monthly figures 2023
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2022 |
|---|---|---|
| January | 8.9% | +2.6 |
| February | 9.0% | +2.3 |
| March | 8.7% | +1.2 |
| April | 8.0% | -0.6 |
| May | 8.0% | -0.8 |
| June | 6.7% | -2.6 |
| July | 6.0% | -3.3 |
| August | 5.8% | -3.0 |
| September | 5.3% | -3.5 |
| October | 4.5% | -4.1 |
| November | 3.8% | -4.8 |
| December | 3.4% | -5.2 |
| Average | 6.5% |
Data source
Data from WorldBank. Last updated: 06/01/2026.