Peruvian inflation dipped sharply in July, bolstering expectations that the central bank will start cutting interest rates this year. Consumer prices in Lima in July rose 5.88% from a year earlier, slightly higher than the 5.82% median forecast of economists surveyed by Bloomberg. In June, annual inflation had reached 6.46%. All of Latin America’s major inflation-targeting economies are forecast to ease monetary policy in the short term as inflation slows across the region. Chile led the way...