Inflation in Chile fell two tenths in September
The National Institute of Statistics (INE) of Chile presented inflation figures for last month
The Consumer Price Index (CPI) of Chile fell to 5.1 % year-on-year in the month of September, which represents a reduction of just two tenths compared to the previous month, according to the National Institute of Statistics (INE).
This drop of 0.2 percentage points is much smaller than that recorded by the index last month, of 1.2 points. On this occasion, Chile’s annual inflation reached the lowest figure since August 2021 (when it stood at 4.8 %). Until last April, the price index in Chile had remained above 10 % for 12 months.
However, inflation in the country has already been declining for ten months. This trend has allowed the Central Bank of Chile to begin progressively cutting interest rates, with two reductions for a total of 175 basis points at the end of last July and in September, which puts the figure at 9.5 %.
The organization has recently updated its inflation forecasts for Chile, with the goal of reaching 4 % by the end of this year. Core inflation, however, would remain at a higher level.
Source: dpa
(Reference image source: Colin Watts, Unsplash)
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