Chile Inflation January 2020

Chile

Chile: Inflation rises to two-and-a-half-year high in January

February 7, 2020

Consumer prices rose 0.6% over the previous month in January, accelerating from December’s 0.1% uptick. According to the Statistical Institute, January’s result chiefly reflected higher prices for food and transport, which more than offset lower prices for clothing. Similarly, core consumer prices rose 0.4% (December: +0.1% month-on-month)

Inflation logged 3.5% in January, up from December’s 3.0% and marking the highest reading in 42 months. Thus, inflation neared the upper bound of the Central Bank’s 2.0%–4.0% target band. Meanwhile, core inflation was stable at December’s 2.5%.

Lastly, annual average inflation ticked down to 2.4%, from 2.5% in December.

In its December assessment, the Central Bank projected inflation to end 2020 at 3.6% and 2021 at 3.1%. FocusEconomics Consensus Forecast panelists expect inflation to end 2020 at 3.0%, which is unchanged from last month’s forecast. The panel sees inflation ending 2021 at 2.9%.


Author:, Economist

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Chile Inflation Chart


Chile Inflation January 20 20

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


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