Chile Inflation October 2021


Chile: Inflation comes in at highest level since October 2014 in October

November 8, 2021

Consumer prices increased 1.34% over the previous month in October, accelerating from September's 1.18% rise. October's uptick marked the highest reading since June 2008. Looking at the details of the release, transportation prices rose at a quicker pace in October compared to the previous month and price pressures for housing, utilities and fuel picked up pace.

Inflation came in at 6.0% in October, up from September’s 5.3%. October's reading marked the highest inflation rate since October 2014, and was well above the Central Bank’s 3% target. Annual average inflation ticked up to 3.8% in October (September: 3.6%). Finally, core inflation rose to 5.1% in October, from the previous month's 4.4%.

FocusEconomics Consensus Forecast panelists see inflation ending 2022 at 4.0%, which is up 0.2 percentage points from last month’s forecast, and closing 2023 at 3.3%.


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Chile Inflation Chart

Chile Inflation October 2021

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

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