Chile Inflation


Chile: Inflation rises again in August

September 8, 2015

In August, consumer prices rose 0.7% over the previous month, which was above July’s 0.4% increase. According to the Statistical Institute, the result mainly reflected higher prices for food and non-alcoholic drinks as well as clothing and footwear.

Inflation rose from July’s 4.6% to 5.0% in August, which marked the highest rate in nine months. As a result, inflation further rose above the upper bound of the Central Bank’s target range of 3.0% plus/minus 1.0 percentage point. Core consumer prices, which exclude volatile categories such as oil, fresh fruit and vegetables, rose 0.4% in August over the previous month, mirroring July’s reading. Core inflation increased from July’s 5.2% to 5.3% in August, which marked the highest value since August 2009.

The Central Bank sees year-end inflation at 2.8% in 2015. LatinFocus Consensus Forecast panelists expect inflation to close 2015 at 3.8%, which is unchanged from last month’s forecast. For 2016, the panel sees inflation easing to 3.1%.

Author: Teresa Kersting, Economist

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Chile Inflation Chart

Chile Inflation August 2015

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

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