El Niño to cut Peru agro sector 0.64 pps, hit 19% of consumption basket

Peruvian think tank president projects El Niño will reduce agropecuary sector output by 0.64 percentage points and directly affect about 19% of the household consumption basket. The estimate is preliminary and based on current climate models; actual impact depends on intensity and duration of the event. This signals potential inflationary pressure on food prices and economic slowdown in Peru.