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Chile Inflation October 2022

Chile: Inflation declines to lowest level since June in October

Inflation came in at 12.8% in October, down from Septembers 13.7%. October’s result represented the weakest inflation rate since June. The reading was driven by moderating price pressures for housing, utilities and fuel and transportation.

The trend pointed up, with annual average inflation coming in at 10.6% in October (September: 10.1%). Meanwhile, core inflation fell to 9.3% in October, from Septembers 10.3%.

Lastly, consumer prices increased 0.52% in October over the previous month, below September’s 0.86% rise and market expectations. October’s result marked the weakest reading since February.

Octobers inflation data is a sign that price pressures have likely peaked, and our analysts see inflation falling in the coming quarters on the impact of elevated interest rates and softer economic activity.

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