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Chile Inflation May 2023

Chile: Inflation falls to over one-year low in May

Inflation dropped to 8.7% in May, following April’s 9.9%. May’s result marked the weakest inflation rate since February 2022. The reading was driven by moderating price pressures for food and non-alcoholic beverages and transportation. That said, inflation was still close to triple the Central Bank’s 3% target.

In addition, the trend pointed down slightly, with annual average inflation coming in at 12.2% in May (April: 12.4%). Meanwhile, core inflation fell to 7.9% in May, from April’s 8.7%.

Finally, consumer prices rose 0.11% in May over the previous month, which was below April’s 0.31% rise and below market expectations. May’s result marked the weakest reading since February.

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