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Chile Inflation October 2023

Chile: Inflation declines to lowest level since August 2021 in October

Inflation came in at 5.0% in October, down from September’s 5.1%. October’s reading represented the weakest inflation rate since August 2021, but was still above the Central Bank’s 2.0%–4.0% target range. Looking at the details of the release, transportation prices fell at a quicker pace in October compared to the previous month, while price pressures for housing, utilities and fuel picked up pace.

Accordingly, the trend pointed down, with annual average inflation coming in at 9.0% in October (September: 9.7%). Meanwhile, core inflation fell to 4.8% in October, from September’s 5.2%.

Lastly, consumer prices rose 0.44% in October over the previous month, coming in below the 0.67% increase recorded in September.

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