Chile: Inflation picks up again in June
July 8, 2015
In June, consumer prices rose 0.5% over the previous month, which was above May’s 0.2% increase. According to the Statistical Institute, the result mainly reflected higher prices for transport, housing and basic services as well as leisure and culture. Conversely, lower prices were registered for clothing and footwear.
Headline inflation rose from May’s 14-month low of 4.0% to 4.4% in June. As a result, inflation jumped above the upper bound of the Central Bank’s target range of 3.0% plus/minus 1.0 percentage point. The core inflation index, which excludes volatile categories such as oil, fresh fruit and vegetables, rose 0.5% in June over the previous month (May: +0.1% month-on-month). Core inflation increased from May’s 5.1% to 5.4% in June, which marked the highest value in three months.