July 1, 2020 / 2:38 PM / a month ago

Peruvian prices sink into deflationary territory in June

LIMA, July 1 (Reuters) - Consumer prices in Peru fell 0.27% in June mainly due to a contraction in food prices, the government said on Wednesday, as the country moves to cautiously resume economic activity halted by the novel coronavirus outbreak.

Retail prices in June sunk into deflationary territory for the first time since June 2019 after rising 0.20% in May and 0.1% in April.

The world’s second-largest copper producer recorded inflation of 0.89% in the first half of the year and 1.60% in the 12 months to June, the National Institute of Statistics and Informatics (INEI) said in a statement, just below the midpoint of the central bank’s target range of 1% to 3%.

Prices for the food and beverage category fell 0.77% in June, while those in the transport and communications category fell 0.26%, INEI reported.

Coronavirus cases had risen to 285,213 in Peru by Tuesday, ranking the country sixth in global infections and second in Latin America after Brazil, according to a Reuters count.

The number of deaths due to the virus reached 9,677, according to official data. (Reporting by Marco Aquino Writing by Aislinn Laing Editing by Paul Simao)

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