Chile Inflation March 2017


Chile: Inflation stays low in March

April 7, 2017

Consumer prices in Chile rose 0.4% in March compared to the previous month, up slightly from February’s 0.2% and bang in line with analysts’ expectations. According to the National Statistical Institute (INE), March’s figure was underpinned by a broad-based rise in prices, with the food and non-alcoholic beverages, education and recreation and culture sub-categories registering the largest increases. At the same time, the prices of transport, clothing and footwear and household equipment dipped compared to the prior month.

Inflation was 2.7% in March, mirroring February’s figure and below the Central Bank’s central target of 3.0%, although still within the 2.0%-4.0% tolerance range. After stripping out volatile categories such as oil, fresh fruit and vegetables, core consumer prices rose 0.3% in March, up marginally from February’s 0.2%, while core inflation inched down from 2.3% in February to 2.2% in March, the lowest figure since October 2013.

The Central Bank predicts year-end inflation of 2.9% in 2017 and 3.0% in 2018. FocusEconomics Consensus Forecast panelists expect inflation to reach 3.0% in 2017, which is unchanged from last month’s forecast. For 2018, panelists also forecast inflation of 3.0%.

Author:, Economist

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Chile Inflation Chart

Chile Inflation March 2017

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

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