Chile Inflation August 2018


Chile: Inflation moderates in August

September 10, 2018

Consumer prices ticked up 0.2% from the previous month in August, down from July’s 0.4% increase. According to the National Statistical Institute (INE), stronger inflationary pressures largely stemmed from higher prices for food and housing.

Inflation moderated for the first time in five months in August, inching down from the previous month’s 15-month high of 2.7% to 2.6%. As a result, inflation moved slightly further away from the mid-point of the Central Bank’s 2.0%–4.0% tolerance range. Meanwhile, average inflation over the last 12 months edged up from 2.0% in July to 2.1% in August.

After removing volatile categories such as fruit, vegetables and fuel, core consumer prices remained unchanged from the previous month in August. Meanwhile, core inflation rose marginally to 2.0% (July: 1.9%), marking a 10-month high.

The Central Bank expects year-end inflation of 2.3% in 2018 and 3.0% in 2019. FocusEconomics Consensus Forecast panelists expect inflation to end 2018 at 2.9%, which is up 0.1 percentage points from last month’s forecast. The panelists see inflation ending 2019 at 3.1%.

Author:, Research Team Manager

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Chile Inflation Chart

Chile Inflation August 2018

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

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