Chile: Inflation eases further in March
April 8, 2015
In March, consumer prices rose 0.6% over the previous month. The print followed the 0.4% increase observed in February and marked a five-month high. According to the Statistical Institute, the monthly reading mainly reflected that higher prices for alcoholic drinks and tobacco offset lower prices for transport and communication.
Annual headline inflation fell from 4.4% in February to 4.2% in March, which was the lowest figure since March 2014. As a result, inflation remains above the upper bound of the Central Bank’s target range of 3.0% plus/minus 1.0 percentage point. The core inflation index, which excludes volatile categories such as oil, fresh fruit and vegetables, rose 0.5% in March over the previous month, which was below February’s 0.6% increase. Annual core inflation fell from February’s 5.7% to 5.5% in March, which marked the lowest value in three months.
Author: Dirina Mançellari, Senior Economist