Chile Inflation


Chile: Inflation drops notably in October

November 6, 2015

In October, consumer prices rose 0.4% over the previous month, which was below September’s 0.5% increase. According to the Statistical Institute, the result mainly reflected that higher prices for food and non-alcoholic drinks more than offset lower prices for transport.

Inflation dropped notably from September’s 4.6% to 4.0% in October, marking the lowest value in five months and a second consecutive moderation after hitting a nine-month high in August. As result, inflation fell just to 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 0.5% in October over the previous month, which was slightly up from September’s 0.4% rise. Core inflation fell from September’s 5.4% to 5.1% in October.

The Central Bank sees year-end inflation at 2.8% in 2015. Panelists participating in the LatinFocus Consensus Forecast expect inflation to close 2015 at 4.5%, which is unchanged from last month’s forecast. For 2016, the panel sees growth at 3.4%, which is unchanged from last month’s Consensus.

Author: Teresa Kersting, Economist

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Chile Inflation Chart

Chile Inflation October 2015

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

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