Chile: Inflation closes 2015 above Central Bank's target range
January 8, 2016
In December, consumer prices were unchanged over the previous month, matching November’s reading. According to the Statistical Institute, the result mainly reflected that higher prices for transport were offset by lower prices for food and non-alcoholic beverages.
Inflation rose notably from November’s 3.9%, which had marked the lowest value since March 2014, to 4.4% in December. As a result, inflation ended 2015 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 rose 0.2% in December over the previous month, which was up from November’s flat reading. Core inflation fell from November’s 4.9% to 4.7% in December.