Chile: Inflation accelerates in January
February 8, 2013
In January, consumer prices rose 0.2% over the previous month, which followed the flat reading registered in December and exceeded market expectations of a 0.1% increase. According to the statistical institute's press release, higher prices for housing and transport offset lower prices for clothing and footwear.
As a result, annual headline inflation inched up from 1.5% in December to 1.6% in January, below the Central Bank's target of 3.0% with a plus/minus 1.0 percentage points tolerance margin. Meanwhile, the core inflation index, which excludes volatile categories such as oil, fresh fruit and vegetables, rose 0.1% over the previous month, below December's 0.3% increase. Annual core inflation remained unchanged at December's 1.4% rate.
In the latest Monetary Policy Report from December 2012, the Bank sees year-end inflation at 2.9% in 2013.