Chile Inflation October 2016

Chile

Chile: Inflation continues downward slide in October

November 8, 2016

In October, consumer prices rose 0.2% over the previous month, which matched September’s figure. The result in October fell short of market expectations of a 0.3% increase. According to the Statistical Institute, the moderate increase mainly reflected higher prices for alcoholic beverages, tobacco and housing.

Inflation fell from 3.1% in September to 2.9% in October, which marked the lowest reading since January 2014. Inflation remains within 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, increased 0.1% in October from the previous month, contrasting September’s 0.1% decrease. Core inflation decreased from 3.4% in September to 3.0% in October.

The Central Bank sees year-end inflation at 3.5% in 2016 and at 3.1% in 2017. FocusEconomics Consensus Forecast panelists expect inflation to close 2016 at 3.3%, which is down 0.2 percentage points from last month’s forecast. For 2017, panelists forecast inflation of 3.0%, which is unchanged from last month’s estimate.


Author:, Senior Economist

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Chile Inflation Chart


Chile Inflation October 2016

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


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