Chile Inflation


Chile: Inflation slows in September

October 8, 2015

In September, consumer prices rose 0.5% over the previous month, which was below August’s 0.7% increase. According to the Statistical Institute, the result mainly reflected higher prices for food and non-alcoholic drinks.

Inflation receded from August’s nine-month high of 5.0% to 4.6% in September. However, 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 0.4% in September over the previous month, mirroring August’s reading. Core inflation rested at August’s 5.3%, which had marked the highest value in over six years.

The Central Bank sees year-end inflation at 2.8% in 2015. Panelists participating in the LatinFocus Consensus Forecast expect inflation to close 2015 at 4.5%, which is up 0.2 percentage points from last month’s forecast. For 2016, the panel sees 3.4%.

Author: Teresa Kersting, Economist

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Chile Inflation Chart

Chile Inflation September 2015

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

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