Chile Inflation September 2020

Chile

Chile: Inflation accelerates in September

October 9, 2020

Consumer prices increased a seasonally-adjusted 0.64% in September over the previous month, picking up from the 0.13% rise seen in August. September's result was the sharpest increase in prices since October 2019. Looking at the details of the release, prices for food and non-alcoholic beverages increased at a much faster pace than in August. Moreover, prices for both transportation and health rebounded. In contrast, prices for housing, utilities and fuel grew at a softer pace.

Inflation rose to 3.1% in September from 2.5% in August. September's figure marked the strongest inflation rate since April. Annual average inflation inched up from 2.9% in August to 3.0% in September. Lastly, core inflation ticked up to 2.2% from August’s 2.0%.

FocusEconomics Consensus Forecast panelists expect inflation to end 2020 at 2.6%, which is unchanged from last month’s forecast. The panel sees inflation ending 2021 at 2.8%.


Author: Massimo Bassetti, Senior Economist

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