Peru: more economic news demonstrate s story of success, low inflation, international major investments.
Lima Stock Exchange
Peru’s consumer prices rose less than expected in March as food inflation slowed and the cost of airplane tickets and phone calls fell. Consumer prices climbed 0.28 percent from the previous month, the National Statistics Institute said today in an e- mailed report.
Prices rose at the slowest pace since November, when the agency registered 0.11 percent deflation, as residential telephone rates dropped 3.3 percent and international air flight costs fell 1.9 percent, the agency said. Food prices rose at the slowest pace since November, climbing 0.3 percent as the cost of chicken, potatoes and fruit declined.
Peru’s consumer prices accelerated 0.76 percent on an annual basis, the agency said. READ MORE HERE.
More Investments.- Vale SA, the world’s largest iron- ore producer, agreed to sell two stakes in a fertilizer project in Peru to Mosaic Co, and Mitsui Co for $660 million.
Mosaic agreed to buy 35 percent of the Bayovar project for $385 million and Mitsui will acquire a 25 percent stake in the same project for $275 million, Rio de Janeiro-based Vale said late yesterday in a regulatory filing. Vale will retain 51 percent of the controlling stock and 40 percent of the total capital in the new company that will operate the mine.
“The sale of these minority stakes will facilitate the distribution of output from the Bayovar project,” Vale said in the statement.
Mosaic is based in Plymouth, Minnesota, and Mitsui has its headquarters in Tokyo. READ MORE HERE.
Lima Stock Exchange.- At present, the Lima Stock Exchange Market has made profits of only 4%, and according to analysts from Credibolsa, this year’s growth may reacho 15% by the end of 2010. READ MORE HERE.