In June, consumer prices slipped 0.3% over the previous month, which followed on the flat reading registered in May and surprised private sector analysts, who had seen consumer prices rising 0.1%. The drop, which represented the sharpest monthly decline in 30 months, was broad-based, with prices for clothing and footwear as well as for utilities leading the decline. As a result of the monthly fall, annual headline inflation declined from 3.1% in May to 2.7% in June, which represents the lowest level since November 2010. As a result of the moderation, annual inflation fell back to the Central Bank's target of 3.0% for the first time since February 2011. The core inflation index, which excludes volatile categories such as oil, fresh fruit and vegetables, remained unchanged over the previous month (May: 0.3% month-on-month), prompting annual core inflation to fall to 2.5% in June, from 2.7% in May. In its June Monetary Policy Report, the Central Bank revised its inflation forecasts for this year. Accordingly, the Bank expects inflation to end this year at 2.7%, down from its previous 3.5% estimate. For 2013, monetary officials maintained their forecast and anticipate inflation closing the year at 3.0%.
Inflation drops to 19-month low
July 6, 2012
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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.