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Chile Inflation March 2023

Chile: Inflation slides in March but remains in double digits

Inflation fell to 11.1% in March from February’s 11.9%. March’s result marked the lowest inflation rate since April 2022, but was still more than triple the Central Bank’s 3% target. Looking at the details of the release, prices for transport, food and non-alcoholic beverages, and housing, utilities and fuel grew at weaker rates in March.

Annual average inflation edged up to 12.5% in March (February: 12.4%). Meanwhile, core inflation rose to 9.4% in March, from the previous month’s 9.1%.

Finally, consumer prices rose 1.08% in March over the previous month, swinging from the 0.06% drop logged in February. March’s figure marked the highest reading since August 2022.

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