Chile Inflation February 2017

Chile

Chile: Inflation inches down in February

March 8, 2017

Consumer prices in Chile rose 0.2% in February compared to the previous month, down from January’s 0.5% rise and coming in slightly below analysts’ expectations of a 0.3% rise. According to the National Statistical Institute (INE), February’s figure was underpinned by a broad-based rise in prices, with the food and non-alcoholic beverages, clothing and footwear and housing and basic services sub-categories recording the largest price rises. Communications and recreation and culture were the only two sub-categories in which prices dropped in February relative to the prior month.

Inflation was 2.7% in February, marginally down from January’s 2.8% and comfortably within the Central Bank’s target range of 2.0%-4.0%. After stripping out volatile categories such as oil, fresh fruit and vegetables, core consumer prices rose 0.2% in February, down from 0.5% in January, while core inflation dropped from 2.7% in January to 2.3% in February, the lowest figure since December 2013.

The Central Bank predicts year-end inflation of 2.7% in 2017. FocusEconomics Consensus Forecast panelists expect inflation to reach 3.0% in 2017, which is unchanged from last month’s forecast. For 2018, panelists forecast inflation of 3.0%.


Author:, Economist

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Chile Inflation Chart


Chile Inflation February 2017

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


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