Chile Inflation July 2016


Inflation moderates and returns within Central Bank's target range in July

In July, consumer prices rose 0.2% over the previous month, which was below June’s 0.4% increase. According to the Statistical Institute, the modest increase mainly reflected higher prices for food and non-alcoholic beverages.

Inflation edged down from June’s 4.2% to an eight-month-low of 4.0% in July, just resting at the upper bound 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, grew 0.4% in July over the previous month, exceeding June’s 0.2% increase. Core inflation inched down from 4.9% in June to 4.8% in July.

Panelists participating in the LatinFocus Consensus Forecast expect inflation to close 2016 at 3.6%, which is unchanged from last month’s forecast. For 2017, the panel sees inflation at 3.1%.

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Chile Inflation Chart

Chile Inflation July 2016 0

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

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