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.
Author: Dirina Mançellari, Senior Economist