During 1Q19, Peru's Gross Domestic Product grew at a year-over-year rate of 2.28%, decelerating by 2.41 p.p. compared to the previous quarter. This performance was mainly due to domestic demand, which slowed its year-over-year growth by 1.78 p.p. compared to 4Q18, to 1.73%. In the labor market, the unemployment rate increased by 2.06 p.p. with respect to 4Q18, reaching 8.15%. The year-over-year growth rate of employment creation in Peru slowed by 1.02 p.p. from the previous quarter to 0.59%. The Peruvian Sol appreciated against the U.S. dollar in comparison with 4Q18, to an exchange rate of 3.32 S/./$. The inflation rate increased in 1Q19 to 2.13%.
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