Jose Mourinho has been trying to bring the Croatia international to Old Trafford all summer but it now appears the winger will stay in Serie A.
Perisic is set to put pen to paper on a deal with Inter, according to Sky Sports in Italy.
The 28-year-old will stay at the San Siro after United refused to meet the £48m valuation of the player.
TRANSFER NEWS LIVE: All the latest gossip, rumours and done deals
Perisic impressed last season for Inter netting 11 goals and providing 12 assists in all competitions.
But Mourinho must now accept he has missed out on one of his top targets this summer.
United have already added Victor Lindelof, Romelu Lukaku and Nemanja Matic to their squad.
And the Red Devils started their Premier League campaign impressively with a 4-0 victory over West Ham at Old Trafford.
Mourinho said he wanted four signings during the current transfer window but he will have to look for alternatives to Perisic now.
United are still being linked with Real Madrid ace Gareth Bale and Paris St-Germain defender Serge Aurier.
The Red Devils return to action on Saturday when they travel to Wales and take on Swansea.
