In March, consumer prices rose 0.8% over the previous month. The increase came in above the 0.5% rise tallied in February and slightly overshot the 0.7% increase the market had expected. According to the statistical institute, the monthly increase mainly reflected higher prices for food and non-alcoholic beverages as well as for transportation. Annual headline inflation increased from 3.2% in February to 3.5% in March, which marked the highest rate since April 2012. However, inflation remains within the Central Bank's target range of 3.0% plus/minus 1.0 percentage points. The core inflation index, which excludes volatile categories such as oil, fresh fruit and vegetables, rose a month-on-month from 0.4% rise in February to 0.7% increase in March. Annual core inflation increased from 2.7% in February to 2.9% in March. The Central Bank sees 2014 year-end inflation at 2.5%. LatinFocus Consensus Forecast panelists expect inflation to close 2014 at 2.8%, which is down 0.1 percentage points from last month's forecast. For 2015, the panel sees inflation inching up to 2.9%.
Inflation reaches a 23-month high in March
April 8, 2014
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Chile Inflation Chart
Note: Year-on-year and monthly variation of consumer price index in %.
Source: Chile National Statistical Institute (INE).
Chile Economic News
October 12, 2016
In September, the Adimark GfK consumer confidence index (IPEC, Índice de Percepción de la Economía) rose slightly, inching up from August’s record-low of 31.5 points to 33.4 points.
October 7, 2016
In September, consumer prices rose 0.2% over the previous month, which came in above August’s flat reading.
October 6, 2016
In Q3, the mood among Chilean businesses improved and reached the highest level in a year.
October 5, 2016
In August, economic activity rose 2.5% over the same month last year, according to the monthly indicator for economic activity (IMACEC).
October 5, 2016
The Chilean government presented the most austere budget proposal in over a decade on 30 September.