Chile Inflation November 2018


Chile: Inflation ticks down in November

December 7, 2018

Consumer prices remained unchanged from the previous month in November, compared to a 0.4% increase in October. According to the National Statistical Institute (INE), the reading largely reflected lower prices for transport and housing which offset higher prices for recreation and culture as well as for food and non-alcoholic beverages.

Inflation inched down to 2.8% in November, from 2.9% in October, falling further below the mid-point of the Central Bank’s 2.0%–4.0% tolerance range. Meanwhile, average inflation over the last 12 months ticked up again in November and stood at 2.4% (October: 2.3%).

In a similar fashion, after removing volatile categories such as fruit, vegetables and fuel, core consumer prices remained stable month-on-month in November (October: +0.1% month-on-month). On the other hand, core inflation edged up from 1.9% in October to 2.0% in November.

The Central Bank predicts year-end inflation of 3.0% in both 2019 and 2020. FocusEconomics Consensus Forecast panelists expect inflation to end 2019 at 3.1%, which is unchanged from last month’s forecast. The panelists see inflation ending 2020 at 3.0%.

Author:, Research Team Manager

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Chile Inflation Chart

Chile Inflation November 2018

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

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