Chile: Consumer confidence hits highest reading since May in October

Consumer confidence jumped to 99.9 in October from September's 88.8. October's result marked the best reading since May. Despite the uptick, the index continued to indicate slight pessimism among consumers, amid double-digit inflation and high interest rates.

October’s increase was driven by improved sentiment regarding current and future conditions.

FocusEconomics panelists see private consumption falling 2.3% in 2023, which is down 0.2 percentage points from last month’s forecast. For 2024, they see private consumption expanding 2.1%.