Chile Inflation December 2018


Chile: Inflation recedes in December

January 9, 2019

According to the National Statistical Institute (INE), consumer prices decreased by 0.1% month-on-month in December, after flat growth in November. The reading was led by lower prices for food and non-alcoholic beverages as well as for clothing.

Inflation logged 2.6% in December, remaining within the Central Bank’s 2.0%–4.0% tolerance range (November: +2.8%). Meanwhile, average inflation over the last 12 months came in at 2.4%, unchanged from November’s result.

After removing volatile categories such as fruit, vegetables and fuel, core consumer prices ticked up by 0.2% month-on-month in December, after zero growth a month prior. On an annual basis, core inflation inched up to 2.1% (November: +2.0%).

The Central Bank projects year-end inflation of 2.8% in 2019 and of 3.0% in 2020. FocusEconomics Consensus Forecast panelists expect inflation to end 2019 at 3.0%, which is down 0.1 percentage points from last month’s forecast. The panel sees inflation ending 2020 at 3.0% as well.


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Chile Inflation Chart

Chile Inflation December 2018 0

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

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