Chile Inflation May 2016


Inflation stabilizes in May

In May, consumer prices rose 0.2% over the previous month, which was slightly below April’s 0.3% increase. According to the Statistical Institute, the modest increase mainly reflected higher prices for food and non-alcoholic beverages.

Inflation stabilized in May after moderating for three months, coming in at 4.2%, which matched April’s reading. Nevertheless, inflation still remained slightly above 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, fell 0.1% in May over the previous month, contrasting April’s 0.4% rise. Core inflation inched down from 5.1% in April to 5.0% in May.

Panelists participating in the LatinFocus Consensus Forecast expect inflation to close 2016 at 3.7%, 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 May 2016

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

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