Central Bank of Peru - Annual Report 2006

Peru's economy grew by 8% in 2006, its highest rate for 11 years.

Inflation was 1.1%, down from 1.5% in 2005, following five 25-basis-point rate hikes in the first five months of the year.

Employment levels grew by 7.3% due to increasing urbanisation. Levels rose slower in Lima (7%), Peru's capital, than in other cities (8.3%).

The current account posted a surplus of 2.8% of GDP, the second highest since 1950.

The central bank said the trade balance was explained by the increased demand

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