LatinNews Daily - 14 July 2023

* Peru’s central bank (BCRP) has held the benchmark interest rate at 7.75% for the sixth consecutive month, amid signs that inflation is now on a downward trajectory. The BCRP noted that monthly inflation in June was -0.15%, down from 0.32% in May, while annual inflation was 6.46%, down from 7.89% in May. The bank stated that “a downward trend in annual inflation is forecast to continue in the coming months, getting close to the target range [1-3%] by the end of the year and entering that range at the beginning of next year, due to the moderation of international prices for food and energy, the reversal of supply shocks in the agricultural sector, and a reduction in inflation forecasts”.