Peru cenbank says growth sped up in Sept, Nov inflation to fall

jueves 13 de noviembre de 2014 15:18 GYT

By Teresa Cespedes

LIMA Nov 13 (Reuters) - The president of Peru's central bank said on Thursday economic growth in September was probably twice August's 1.24 percent and that inflation will likely fall this month on slipping fuel and food costs.

Central Bank President Julio Velarde said strong cement and electrical consumption in September point to an ongoing economic recovery after growth slowed to 0.3 percent in June.

September's data is scheduled for release on Monday.

"Growth in September isn't going to be that bad," Velarde told reporters. "It's going to be better than in July and August, likely about double August's growth."

In the first eight months of 2014 the economy expanded 2.75 percent on the year, the weakest pace in five years.

The central bank will decide whether to hold its benchmark interest rate unchanged late on Thursday.

Velarde said falling fuel and food costs will ease temporary supply pressures on inflation.

The annual inflation rate rose to 3.09 percent in October, slightly above the bank's target ceiling.   Continuación...