1945

The domestic recession which had hit the Peruvian economy the year before increased in severity in 1989 (-11%), bringing down the per capita product to a level 25% below that recorded at the start of the 1980s and prompting a further decrease in gross national income. At the same time, the rate of price increases remained high throughout the year, with a 12-month inflation rate as of December of 2 800%, while real wages and salaries dropped to just half of their already low 1988 level.

Related Subject(s): Economic and Social Development
Countries: Peru
/content/books/9789210583299s003-c017
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