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%).
Author: Nicolás J. Aguilar, Economist