Inflation in the Andean country is coming close to the central bank of Peru (BCRP) goal of 1% to 3%.

The Consumer Price Index (CPI) resumed a downward trend in Peru in March, reaching 3.05% in annual terms down from 3.29% the previous month, according to data released to day by the National Institute of Statistics and Informatics (INEI) of Peru.

In this context, Peruvian inflation is now very close to the goal of the country's central bank (BCRP), of 1% to 3%.

That said, month to month inflation registered a significant increase in March, reaching 1.01%, compared to 0.56% in February and 0.02% in January. The CPI in the first quarter of accumulated 1.59% growth.

The monthly result was mainly driven by price increases in education (4.20%), food and non-alcoholic beverages (1.70%), transportation (0.8%) and restaurants and hotels (0.49%).

The smallest price increases took place in recreation and culture (0.12%), clothing and footwear (0.10%), and furniture, household items and ordinary home maintenance (0.09%). It should be noted that the communications item did not show any variation.