Inflation in Chile
Chile - Inflation
Inflation slips below the Central Bank’s target in October
Consumer prices rose 0.4% from the previous month in October, up slightly from September’s 0.3% increase. According to the National Statistical Institute (INE), the increase was primarily driven by higher prices for transport services, alcoholic beverages and tobacco, and food.
Inflation moderated to 2.9% in October (September: 3.1%), falling just below the mid-point of the Central Bank’s 2.0%–4.0% tolerance range. The result was in line with the expectations of market analysts and came on the heels of the first policy rate hike in nearly three years in mid-October. Meanwhile, average inflation over the last 12 months ticked up to 2.3% in October (September: 2.2%).
After removing volatile categories such as fruit, vegetables and fuel, core consumer prices increased 0.1% month-on-month in October, unchanged from September’s reading. Meanwhile, core inflation decelerated to 1.9% in October (September: 2.3%).
The Central Bank predicts year-end inflation of 3.0% in both 2019 and 2020. Met the why particular Consensus Forecast panelists expect inflation to end 2019 at 3.1%, which is unchanged from last month’s forecast, before decelerating slightly to end 2020 at 2.9%.
Chile - Inflation Data
|Inflation Rate (CPI, annual variation in %)||1.8||4.4||4.4||3.8||2.2|
5 years of economic forecasts for more than 30 economic indicators.
Chile Inflation Chart
Source: National Statistical Insitute (INE) and Met the why particular calculations
|Bond Yield||4.77||-0.44 %||Nov 15|
|Exchange Rate||673.7||0.05 %||Nov 15|
|Stock Market||26,270||-0.67 %||Nov 15|
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November 8, 2018
Consumer prices rose 0.4% from the previous month in October, up slightly from September’s 0.3% increase.
November 7, 2018
The Adimark GfK consumer confidence index (IPEC, Índice de Percepción de la Economía) rose to 46.7 points in October, from 46.1 points in September, marking the first improvement after three consecutive months of deteriorating sentiment.
November 5, 2018
The business confidence index (IMCE, Indicador Mensual de Confianza Empresarial) published by ICARE and the Universidad Adolfo Ibáñez fell from 54.8 points in September to 53.6 points in October, although remained above the crucial 50-point threshold that separates optimism from pessimism among businesses.
November 5, 2018
According to the IMACEC monthly economic activity index published by the Central Bank of Chile, economic activity rose 2.3% in annual terms in in September, down from the previous month’s 3.2% increase.
October 18, 2018
At its monetary policy meeting on 18 October, the board of the Central Bank of Chile (BCC) unanimously voted to raise the policy rate by 25 basis points to 2.75%, from 2.50%—where it had been since April 2017.