Chile Inflation January 2016


Chile: Inflation rises in January

February 8, 2016

In January, consumer prices rose 0.5% over the previous month, which followed December’s flat reading. According to the Statistical Institute, the result reflected higher prices among most categories of the index, including alcoholic beverages and tobacco.

Inflation rose from December’s 4.4% to 4.8% in January. As a result, inflation remained 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 0.7% in January over the previous month, which was up from December’s 0.2% increase. Core inflation edged up from 4.7% in December to 4.9% in January.

Panelists participating in the LatinFocus Consensus Forecast expect inflation to close 2016 at 3.5%, which is unchanged from last month’s forecast. For 2017, the panel sees inflation at 3.1%.

Author: Teresa Kersting, Economist

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Chile Inflation Chart

Chile Inflation January 2016

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

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