Inflation in Chile is almost in double digits

The Consumer Price Index (CPI) of Chile stood at 9.9 % year-on-year in the month of April, managing to once again cross the double-digit barrier on which it had settled in the last twelve months.

Specifically, according to data released this Monday by the National Institute of Statistics (INE) of Chile, Chilean inflation would have fallen by 1.3 points in the last month and the figure for April would be the lowest in the last year. It would be necessary to go back to the same month in 2022 to find this index below 10 %.

In this way, inflation in the country has accumulated five months of decline, although it still registers levels well above the target, which leads the Central Bank of Chile to remain cautious, with interest rates frozen at 11, 25 % since last October. On several occasions, the president of the central body, Rosanna Costa, warned that this line will continue until the downward trend in prices is consolidated.

In monthly figures, inflation increased by 0.3 %, eight tenths less than in March, when there was an increase of 1.1 %. The increase in April has been one of the lowest in the last year, only equaled by that of last December 2022.

Of the twelve divisions that make up the price index, three had a positive incidence, highlighting health (with an increase of 1.5 %) and transport (0.8 %). The largest monthly drop occurred in the recreation and culture group (-1.7 %).

In year-on-year terms, the food division continues to be the one that registers the highest percentage, reaching 14.8 %, although they represent more than three points less than in March. This is followed by the restaurants and hotels group, which stands at 13.3 %, two points below the previous month.

K. Tovar

Source: La Republica

(Reference image source: regularguy.eth, Unsplash)

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