Chile Inflation


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.

The Central Bank sees year-end inflation at 2.8% in 2015. LatinFocus Consensus Forecast panelists expect inflation to close 2015 at 2.7%, which is unchanged from last month’s forecast. For 2016, the panel sees inflation easing to 3.0%.

Author:, Senior Economist

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Chile Inflation Chart

Chile Inflation March 2015

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

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