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Peru central bank says inflation to take longer to reach target range
February 12, 2016 / 6:51 PM / 2 years ago

Peru central bank says inflation to take longer to reach target range

LIMA, Feb 12 (Reuters) - Peru’s central bank said on Friday that it now expects inflation to take longer to cool back to its target and described a more positive growth outlook, with a nearly 4 percent year-on-year expansion in the first quarter.

The annual inflation rate, now at a four-year high of 4.6 percent, will likely reach its 3 percent target ceiling between the end of this year and the start of 2017 instead of by year-end as previously forecast, said the central bank’s chief economist Adrian Armas. (Reporting By Mitra Taj; Editing by Diane Craft)

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