Chile: Inflation stable in April
May 8, 2019
According to the National Statistical Institute (INE), consumer prices rose 0.3% month-on-month in April, after March’s 0.5% result. April’s print largely reflected higher prices for food and non-alcoholic beverages, as well as for transport owing to higher fuel prices. Meanwhile, core consumer prices edged up 0.1% in March (February: 0.4% month-on-month).
Inflation came in at 2.0% in April, unchanged from March’s turnout, thus remaining at the lower bound of the Central Bank’s 2.0%-4.0% target range. Similarly, core inflation remained stable at the previous month’s 1.9% in April.
Annual average inflation clocked 2.4%, below March’s 2.6% result.
The Central Bank projects year-end inflation of 2.6% in 2019 and of 3.0% in 2020.
Chile Inflation Forecast
FocusEconomics Consensus Forecast panelists expect inflation to end 2019 at 2.7%, which is unchanged from last month’s forecast. The panel sees inflation ending 2020 at 2.9%.
Author: Nicolás J. Aguilar, Economist