Chile Inflation March 2016


Chile: Inflation continues to edge down in March

April 8, 2016

In March, consumer prices rose 0.4% over the previous month, which slightly exceeded February’s 0.3% increase. According to the Statistical Institute, the result mainly reflects that higher prices for education, housing and basic services more than offset lower prices for transport.

Inflation moderated for a second consecutive month, edging down from 4.7% in February to 4.5% in March. Nevertheless, inflation still remained 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 0.4% in March over the previous month, which was down from February’s 0.6% increase. Core inflation fell slightly from 4.9% in February to 4.8% in March.

Panelists participating in the LatinFocus Consensus Forecast expect inflation to close 2016 at 3.7%, which is unchanged from last month’s forecast. For 2017, the panel sees inflation at 3.1%.

Author: Teresa Kersting, Economist

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Chile Inflation Chart

Chile Inflation March 2016 1

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

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