Peru's poverty rate ticks up for second straight year

A woman and child walk on the hills of Villa Maria del Triunfo, a shanty town on the outskirts of Lima, Peru May 9, 2017. Picture taken May 9, 2017. REUTERS/Guadalupe Pardo/File photoLIMA, May 9 - Peru's poverty rate rose again last year, official data showed on Thursday, as South America's fourth biggest nation struggles to emerge from a painful recession amid ongoing political turbulence blamed in part for denting the economy.

The figure, up 1.5% from the previous year, marks the second consecutive annual increase while approaching the decade-high of 30.1% recorded in 2020, when Peru faced travel and economic lockdowns intended to stem the COVID-19 pandemic. INEI set the definition of poverty last year at per capita expenditures less than the value of basic food staples and services, or about 446 soles per month for one person.

Source: Financial Digest (financialdigest.net)

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