December 2, 2016 / 4:56 PM / 2 years ago

Droughts in Peru might fan inflation if no rains by Jan - cenbank

PARACAS, Peru, Dec 2 (Reuters) - The president of Peru’s central bank said on Friday that droughts in different farming regions in the Andean country might fan inflation if rains do not come by January.

But Julio Velarde added that an adjustment to the benchmark interest rate in response would be “impotent” in keeping a lid on any food price increases because they would be driven by supply and not demand. (Reporting By Marco Aquino, Writing By Mitra Taj)

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