Peru annual inflation rose 7.97% YoY in April, above expectations but decelerating below 8% for the first time in a year. Monthly, inflation rose by 0.56%. Peru’s central bank president noted that officials are determined to bring inflation back to 3% by year-end but cautioned that the downward trend would be bumpy. The central bank has held its key interest rate at 7.75% for three consecutive months, and it will reassess its benchmark rate at its upcoming monthly meeting.