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Peru consumer prices increased by 0.29% in July

Data from 'the national?"statistics "agency INEI on Saturday showed that?peruvian _monthly_ consumer prices rose 0.29% during?July. This was slightly below the median forecast of 0.30% in a poll, and follows a 0.23% increase in June.

INEI?said that the increase in prices was primarily due to a rise of 0.67% in food and non-alcoholic drinks,?led mainly by higher prices for poultry meat and cuts, eggs and?some fruits and vegetables.

Fuel prices fell, but transport prices rose 0.20%. This was due to increased demand during Fiestas Patrias for air and interprovincial travel. Restaurant and hotel prices increased by 0.18%. Gas, electricity, and housing prices all fell 0.12%. This was due to lower gas prices and lower electric tariffs after a new rate system that went into effect on July 4.

The annual inflation rate in Lima, the nation's primary inflation benchmark, increased to 4.07% from 4.01% in June. This is still above the central banks' 1%-3% target range. Preetika parashuraman, Bengaluru. Edited by Hugh Lawson.

(source: Reuters)