Chile Inflation


Chile: Inflation ticks up in August

September 8, 2014

In August, consumer prices rose 0.3% over the previous month. The print came in slightly above both the 0.2% increase tallied last month and the 0.1% the market had expected. According to the statistical institute, the monthly reading reflected higher prices for food and non-alcoholic beverages as well as for clothing.

Annual headline inflation ticked up from 4.5% in July to 4.6% in August. As a result, inflation remains above the Central Bank’s target range of 3.0% plus/minus 1.0 percentage points. The core inflation index, which excludes volatile categories such as oil, fresh fruit and vegetables, rose 0.4% over the previous month (July: +0.2% month-on-month). Annual core inflation rose from July’s 4.2% to 4.4% in August.

The Central Bank sees year-end inflation at 4.0% for 2014 and at 3.1% in 2015. LatinFocus Consensus Forecast panelists expect inflation to close 2014 at 3.8%, which is unchanged from last month’s forecast. For 2015, the panel sees inflation easing to 3.0%.

Author:, Senior Economist

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Chile Inflation Chart

Chile Inflation August 2014

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

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