Peruvian consumer prices rose 3.48 percent in 2004, just below a revised official goal of 3.5 percent inflation, the government said on Saturday. Higher oil prices and a drought affecting farming helped push consumer prices up this year, forcing the government to relax its original 2.5 percent target. Acting Central Bank head Oscar Dancourt said earlier this month that inflation could end the year "a little bit above" the official goal.

Copyright Reuters, 2005