Chile Inflation May 2020


Chile: Inflation plunges to six-month low in May

June 5, 2020

Consumer prices dropped a seasonally-adjusted 0.1% from the previous month in May, after coming in flat in April. Looking at the details of the release, prices for transport declined at a softer rate. Meanwhile, food and non-alcoholic beverages prices came in flat in May as did prices for housing.

Inflation dropped to 2.8% in May, down from April’s 3.4%. May's figure represented the lowest inflation rate since November 2019. Meanwhile, the trend pointed up mildly, with annual average inflation coming in at 2.9% in May (April: 2.8%). Core inflation fell to 2.1% from April’s 2.3%.

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 3.0%, which is unchanged from last month’s forecast. The panel sees inflation ending 2021 at 2.9%.


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Chile Inflation Chart

Chile Inflation May 20 20 0

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

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