Inflation in Chile

Chile Inflation | Economic News & Forecasts

Chile - Inflation

Inflation comes in at highest level since November 2014 in September

Consumer prices rose 1.18% in September over the previous month, picking up from August's 0.36% rise. September's uptick marked the highest reading since June 2008. Looking at the details of the release, transportation prices rose at a quicker pace in September compared to the previous month and price pressures for housing, utilities and fuel eased somewhat but remained elevated.

Inflation rose to 5.3% in September, above August’s 4.8%. September's result represented the highest inflation rate since November 2014, and was well above the Central Bank’s 3% target. Annual average inflation edged up to 3.6% in September (August: 3.4%). Finally, core inflation rose to 4.4% in September, from August’s 3.8%. Intensifying price pressures in recent months have been driven by a mixture of vast fiscal stimulus at home, a wilting peso and higher international energy prices.

Our panel forecasts inflation to end 2021 at 5.0% and 2022 at 3.8%, which is up 0.4 percentage points from last month’s estimate.

Chile - Inflation Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %)4.4  3.8  2.2  2.4  2.3  

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Chile Inflation Chart


Chile Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: National Statistical Insitute (INE) and FocusEconomics calculations

Chile Facts

Value Change Date
Bond Yield3.14-0.44 %Dec 30
Exchange Rate752.00.05 %Jan 01

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