Chile Inflation March 2020


Chile: Inflation moderates in March amid cheaper oil

April 8, 2020

Consumer prices rose 0.3% over the previous month in March, easing from February’s 0.4% increase. According to the Statistical Institute March’s result reflected higher prices for education and food, which more than offset lower prices for transport.

Inflation logged 3.7% in March, down from February’s 3.9%. Thus, inflation remained within the Central Bank’s 2.0%–4.0% target band. Meanwhile, core inflation fell to 2.5% from February’s 2.7%.

Lastly, annual average inflation crept up to 2.7%, from 2.6% in February.

In its March assessment, the Central Bank projected inflation to end 2020 at 3.0% and 2021 at 2.9%. FocusEconomics Consensus Forecast panelists expect inflation to end 2020 at 3.4%, which is up 0.3 percentage points from last month’s forecast. The panel sees inflation ending 2021 at 2.8%.


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Chile Inflation Chart

Chile Inflation March 20 20

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

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