UPDATE 3-Peru Feb CPI jumps; 12-mo inflation at 6 year-low

(Adds wholesale inflation, paragraphs 10-13)

By Walker Simon

LIMA, March 1 (Reuters) - Peru's consumer prices jumped to a 0.26 percent increase in February from 0.01 percent in January, but the yearly inflation rate softened to its weakest level in six years, the government said on Thursday.

The February number was above the 0.22 percent median forecast in a Reuters poll of 10 economists. Their forecasts ranged from 0.1 percent to 0.44 percent.

The greatest increases were seen in food and beverage prices, which rose 0.5 percent, led by a 3.6 percent jump in fresh vegetables, the national statistics agency INEI said.

Garments and footwear rose 0.27 percent followed by education and entertainment costs, which rose 0.23 percent.

ANNUAL INFLATION AT 6-YEAR LOW

Consumer prices rose 0.36 percent in the 12-month period through February, slowing to a crawl from a 0.64 percent advance in the 12-month period through January, INEI added. The agency said the annual rate was the lowest in six years.

The 12-month inflation figure was slightly above the 0.33 percent median of forecasts from seven economists.

Peru's central bank 2007 inflation target is between 1 percent and 3 percent.

The CPI rose a cumulative 0.27 percent during the first two months of this year.

Peru had 2006 inflation of 1.14 percent.

WHOLESALE PRICES FALL

Peru's wholesale price index fell 0.48 percent in February after a 0.34 percent decline in January, INEI said.

February's decline was largely due to a 0.2 percent fall in the wholesale prices of domestically produced goods in the manufacturing sector and a 1.68 percent fall in imported goods in the manufacturing sector, INEI data showed.

Annual wholesale inflation also slowed, the statistics agency said.

In the 12-month period ending February, wholesale prices advanced 0.2 percent, slowing from a 0.5 percent gain in the 12-month period through January.

For more details on the INEI's February inflation report, please go to: here Readers can also double-click on: tinyurl.com/ywu49s