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Chile Inflation January 2019

Chile: Inflation slips below the Central Bank’s tolerance range

According to the National Statistical Institute (INE), consumer prices ticked up 0.1% month-on-month in January, after edging down 0.1% in December. The monthly increase reflected higher prices for alcoholic beverages and tobacco, as well as for housing and basic services.

Inflation came in at 1.8% in January, below the Central Bank’s 2.0%–4.0% tolerance range (December: +2.6%). Meanwhile, average inflation over the last 12 months was unchanged at 2.4% in January.

After removing volatile categories such as fruit, vegetables and fuel, core consumer prices rose 0.4% month-on-month in January, after increasing 0.2% in the month prior.

The Central Bank projects year-end inflation of 2.8% in 2019 and of 3.0% in 2020.

Chile Inflation Forecast

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