"Peru's Inflation Rate Stabilizes at 3.24% as 2023 Concludes"

Peru concluded 2023 with an inflation rate of 3.24%, the lowest in three years and close to the central bank's target range of 1% to 3%. This figure was below the central bank's earlier projection of 3.8% and came amid a marginal price increase in December. Despite the positive inflation outlook, Peru faces economic challenges including a potential El Nino impact, reduced private investment, and possible anti-government protests. The central bank has also been reducing the reference interest rate, which stood at 6.75% after a cut in mid-December.