Inflation in Chile

Chile Inflation | Economic News & Forecasts

Chile - Inflation

Inflation comes in at highest level since November 2008 in December

Consumer prices rose 0.78% from the previous month in December, picking up from the 0.50% increase logged in November. The figure was primarily due to increasing prices for food and non-alcoholic beverages. In addition, price pressures for transportation grew at a stronger pace.

Inflation came in at 7.2% in December, up from November’s 6.7%. December's result was the highest inflation rate since November 2008. Elevated inflation in recent months has been driven by a mixture of vast fiscal stimulus at home, a wilting peso and higher international energy prices. Moreover, December’s inflation reading will likely encourage the Central Bank to continue its tightening cycle at upcoming meetings. Meanwhile, the trend pointed up, with annual average inflation coming in at 4.5% in December (November: 4.2%). Lastly, core inflation rose to 6.4% in December, from the previous month's 5.8%.

Our panel forecasts inflation to end 2022 at 4.2%, which is up 0.2 percentage points from last month’s estimate, and 2023 at 3.3%.

Chile - Inflation Data

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

Sample Report

5 years of economic forecasts for more than 30 economic indicators.


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

Sample Report

Get a sample report showing our regional, country and commodities data and analysis.


Request a Trial

Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.

Sign Up

Economic News

Search form