Chile Inflation September 2016


Chile: Inflation falls to over-two-year low in September

In September, consumer prices rose 0.2% over the previous month, which came in above August’s flat reading. The print fell short of market expectations of a 0.6% increase. According to the Statistical Institute, the moderate increase mainly reflected higher prices for food, non-alcoholic beverages and transport.

Inflation fell from August’s 3.4% to 3.1% in September, which marked the lowest reading in more than two years and brought inflation close to the center of the Central Bank’s target range of 3.0% plus/minus 1.0 percentage point. Core consumer prices, which exclude volatile categories such as oil, fresh fruit and vegetables, fell 0.1% in September from the previous month, contrasting August’s 0.1% increase. Core inflation decreased from 3.9% in August to 3.4% in September.

The Central Bank projects that inflation will end this year at 3.5% and 2017 at 3.1%. Panelists participating in the LatinFocus Consensus Forecast expect inflation to close 2016 at 3.5%, which is down 0.1 percentage points from last month’s forecast. For 2017, the panel sees inflation at 3.0%.

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Chile Inflation Chart

Chile Inflation September 2016

Note: Year-on-year and monthly variation of consumer price index in %.
Source: Chile National Statistical Institute (INE).

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