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.
Author: Nicolás J. Aguilar, Economist