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Chile Inflation September 2023

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

Inflation edged down to 5.1% in September from August’s 5.3%. September’s reading represented the lowest inflation rate since August 2021 but was still well above the Central Bank’s 3.0% target. Looking at the details of the release, lower price pressures for food drove the slowdown in inflation, more than offsetting a softer drop in transport price pressures.

Annual average inflation fell to 9.7% in September (August: 10.4%). Meanwhile, core inflation was stable, coming in at August’s 5.2% in September.

Lastly, consumer prices increased 0.67% over the previous month in September, picking up from August’s 0.11% rise and slightly above market expectations. September’s figure marked the highest reading since March.

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