Chile Inflation December 2017


Chile: Inflation moves back within tolerance range in December

January 8, 2018

Consumer prices rose 0.1% in December compared to the prior month, matching November’s figure and marginally undershooting analysts’ expectations. According to the National Statistical Institute (INE), December’s rise was underpinned by higher prices for transport, while lower food and non-alcoholic drinks prices subtracted from the overall figure.

Inflation came in at 2.3% in December, up from 1.9% in November and thus moving back into the Central Bank’s 2.0%-4.0% tolerance range following six months of below-target readings. After stripping out volatile categories, core consumer prices rose 0.1% month-on-month in December, contrasting November’s 0.1% dip, while core inflation rose from 1.8% in November to 1.9% in December. The rise in inflation since September is likely to reduce pressure on the Central Bank to reduce rates in the near term.

The Central Bank predicts year-end inflation of 2.9% in 2018. FocusEconomics Consensus Forecast panelists expect inflation to end 2018 at 2.8% and 2019 at 3.0%.

Author:, Economist

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Chile Inflation Chart

Chile Inflation December 2017

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

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