Consumer prices in Peru saw a marginal rise of 0.32% MoM in May. The annual inflation rate declined for the fourth consecutive month to 7.89%, just under the forecasted 7.9%. The Central Bank of Peru is steadfast in achieving its year-end inflation target of 3%, despite it only decreasing by 77 bps since January. The bank has held its key interest rate steady at 7.75% for the past four months.