Yahoo Sport 
UPDATE 1-Peru annual inflation eases to lowest since July 2021, beating forecasts
(Recasts with details on annual inflation, adds that it beats monthly forecast)
Oct 31 (Reuters) - Annual inflation in Peru decelerated to 4.34% in October to reach its lowest in over two years, according to official data published on Wednesday, far surpassing forecasts though still above the central bank's target rate.
Data from national statistics agency INEI showed the key index based on the metropolitan region of Lima slowed to its lowest level since July 2021, when it stood at 3.8%.
On a month-to-month basis the Lima Consumer Price Index, Peru's inflation benchmark, fell 0.32%, reversing the upward path seen in September, when consumer prices were up 0.02%.
It also easily beat forecasts by an LSEG-compiled poll of analysts, who forecast monthly consumer prices would rise 0.18%.
The world's second-largest copper producer has been grappling with poor weather, lower private investment in mining and anti-government protests staged earlier this year, which has led the government to slash its forecasts for economic growth.
Economy Minister Alex Contreras acknowledged for the first time last month that there was "no doubt" Peru is in a recession, and requested financial stimulus to boost growth.
That could affect Peru's battle to get inflation back to the central bank's official target of 2%, plus or minus one percentage point, which it originally forecast achieving by the end of 2023 but now does not foresee doing so until 2024.
Still, with some progress in recent months in taming stubbornly high inflation, Peru's monetary authority cut its benchmark interest rate in October to 7.25%, following another cut in September.
INEI said in a statement that inflation in October was driven by price rises in transportation (0.37%), services (0.37%), restaurants and hotels (0.36%), and fuel, water and energy (0.31%). (Reporting by Natalia Siniawski and Marco Aquino; Writing by Valentine Hilaire and Isabel Woodford; Editing by Jason Neely and Jonathan Oatis)
