Chile Inflation June 2022

Chile

Chile: Inflation comes in at highest level since June 1994 in June

July 8, 2022

Consumer prices increased 0.93% in June over the previous month, slowing down from the 1.20% rise logged in May. The reading was primarily due to slower growth in prices for food and non-alcoholic beverages. In addition, price pressures for housing, utilities and fuel moderated. However, transport prices rose at a faster pace.

Inflation rose to 12.5% in June, above May’s 11.5%. June's figure marked the highest inflation rate since June 1994. Meanwhile, the trend pointed up, with annual average inflation coming in at 7.9% in June (May: 7.1%). A combination of the wilting peso and elevated international commodity prices contributed to price pressures in June.

FocusEconomics Consensus Forecast panelists see inflation ending 2022 at 8.7%, which is up 0.8 percentage points from last month’s forecast, and closing 2023 at 3.9%.


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Chile Inflation June 2022

Note: Year-on-year and monthly variation of consumer price index in %.
Source: Chile National Statistical Institute (INE).


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