This report presents initial findings from the third round of data collection by Young Lives in Peru. It gives a broad outline of some of the key indicators of childhood poverty and changes that have taken place in the children's lives between the earlier rounds of data collection in 2002 and 2006 and this third round. In particular, we are able to make comparisons between the older children at age 8 in 2002 (in Round 1), and the younger cohort at age 8 in 2009 (Round 3) - to highlight changes that have happened in the children's lives and their communities over that time.