Chile Inflation


Chile: Inflation eases in June

July 8, 2014

In June, consumer prices were unchanged over the previous month. The figure undershot the 0.3% increase tallied in May and marked the smallest print since May 2013. According to the statistical institute, the monthly reading reflected the fact that higher prices for food and non-alcoholic beverages as well as for transportation offset lower prices for alcoholic beverages and tobacco.

Annual headline inflation fell from 4.7% in May to 4.3% in June. June’s reading undershot the 4.5% rate the market had expected. Despite the drop, inflation is above the Central Bank’s target range of 3.0% plus/minus 1.0 percentage points. The core inflation index, which excludes volatile categories such as oil, fresh fruit and vegetables, rose 0.1% over the previous month (May: +0.3% month-on-month). Annual core inflation remained stable at May’s 4.0%.

The Central Bank sees 2014 year-end inflation at 2.5%. LatinFocus Consensus Forecast panelists expect inflation to close 2014 at 3.4%, which is up 0.1 percentage points from last month’s forecast. For 2015, the panel sees inflation inching down to 3.1%.

Author:, Senior Economist

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Chile Inflation Chart

Chile Inflation June 2014

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

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