Chile Inflation


Chile: Inflation jumps to highest rate in over five years

October 8, 2014

In September, consumer prices rose 0.8% over the previous month. The print came in above the 0.3% increase tallied last month. According to the statistical institute, the monthly reading reflected higher prices for food and non-alcoholic beverages as well as for housing.

Annual headline inflation rose from 4.5% in August to 4.9% in September, which marked the highest rate since January 2009. The figure slightly overshot the 4.8% the market had expected. As a result, inflation remains 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 0.6% over the previous month (August: +0.4% month-on-month). Annual core inflation inched up from August’s 4.4% to 4.5% in September.

The Central Bank sees year-end inflation at 4.0% for 2014 and at 3.1% in 2015. LatinFocus Consensus Forecast panelists expect inflation to close 2014 at 4.1%, which is unchanged from last month’s forecast. For 2015, the panel sees inflation easing to 3.0%.

Author:, Senior Economist

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Chile Inflation Chart

Chile Inflation September 2014

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

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