Chile Inflation


Chile: Inflation inches down to over-one-year low in November

December 7, 2015

In November, consumer prices were unchanged over the previous month, which was below October’s 0.4% increase. According to the Statistical Institute, the result mainly reflected that lower prices for transport were offset by higher prices for different goods and services.

Inflation dropped slightly from October’s 4.0% to 3.9% in November, marking the lowest value since March 2014. As result, inflation fell slightly below the upper bound of the Central Bank’s target range of 3.0% plus/minus 1.0 percentage point. Core consumer prices, which exclude volatile categories such as oil, fresh fruit and vegetables were unchanged in November over the previous month, which was below from October’s 0.5% rise. Core inflation fell from October’s 5.1% to 4.9% in November.

The Central Bank sees year-end inflation at 2.8% in 2015. Panelists participating in the LatinFocus Consensus Forecast expect inflation to close 2015 at 4.5%, which is up 0.1 percentage points from last month’s forecast. For 2016, the panel sees growth at 3.5%, which is down 0.1 percentage points from last month’s Consensus.

Author: Teresa Kersting, Economist

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Chile Inflation Chart

Chile Inflation November 2015

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

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