Chile: Inflation recedes in July
August 8, 2019
Consumer prices rose 0.2% month-on-month in July, after a neutral print in June. The upturn reflected higher prices for housing and basic services, and clothing. Similarly, core consumer prices rose 0.3% over the previous month in July, following a neutral print a month prior.
Inflation eased to 2.2% in July, (June: 2.3%), thus remaining below the midpoint of the Central Bank’s 2.0%–4.0% target rate. In addition, core inflation edged up to 2.2% (June: 2.1%).
Annual average inflation clocked in at 2.4%, unchanged from June’s result.
The Central Bank projects year-end inflation of 2.6% in 2019 and of 3.0% in 2020.
Author: Nicolás J. Aguilar, Economist