Chile Inflation


Chile: Inflation eases to over-one-year-low in April

May 8, 2015

In April, consumer prices rose 0.6% over the previous month, matching March’s result which had represented a five-month high. According to the Statistical Institute, the monthly reading mainly reflected higher prices for food and non-alcoholic beverages, transport as well as healthcare.

Headline inflation inched down from 4.2% in March to 4.1% in April, 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 April over the previous month, mirroring March’s print. Annual core inflation fell from March’s 5.5% to 5.2% in April, which marked the lowest value in four months.

The Central Bank sees year-end inflation at 2.8% in 2015. LatinFocus Consensus Forecast panelists expect inflation to close 2015 at 3.3%, which is up 0.1 percentage points from last month’s forecast. For 2016, the panel sees inflation easing to 3.0%.

Author: Teresa Kersting, Economist

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Chile Inflation Chart

Chile Inflation April 2015

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

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