Peru’s central bank held its interest rate at 7.75% for the sixth consecutive month in August 2023. The annual inflation rate in the country dropped to 5.88% in July, its lowest since January 2022, while core inflation decelerated to 3.89%. However, both rates are above the target range. Inflation expectations for twelve months decreased to 3.57% in July from 3.83% in June, and indicators hint at a moderate economic recovery in July, albeit remaining pessimistic.