Chile Monetary Policy


Inflation edges above the Central Bank?s target in August

In August, consumer prices rose 0.2% over the previous month, which was above both the 0.1% price rise recorded in July and market analysts' expectations of a 0.1% rise. The monthly reading mainly reflected higher prices for clothing and footwear as well as for healthcare, which were only partially offset by lower prices for recreation and culture. Annual headline inflation rose from 2.9% in July to 3.2% in August, nudging above the Central Bank's target of 3.0%. The core inflation index, which excludes volatile categories such as oil, fresh fruits and vegetables, inched 0.2% higher over the previous month. Annual core inflation rose from 2.0% in July to 2.3% in August. The Central Bank expects inflation to end the year at 4.0%, before moderating to 3.0% by the end of 2012.


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