Wednesday, December 6, 2023

Inflation in Chile leaves double digits in April after twelve months and stands at 9.9% year-on-year

The consumer price index (CPI) of Chili it stood at 9.9% year-on-year in the month of April, once again managing to cross the double-digit barrier below which it had settled in the last twelve months.

Specifically, according to data released this Monday by the National Statistics Institute (INE) Chile, Chilean inflation would have fallen by 1.3 points in the last month (compared to 11.1% year-on-year in March) and the figure 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% (when it stood at the 9.4%).

In this way, the inflation in the country it has already accumulated five months of decline, although it still registers levels well above the target, which leads to the Central Bank of Chile to maintain caution, with interest rates frozen at 11.25% since last October. On several occasions, the president of the central body, Rosanna Costahas 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%. He increase 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 impact, highlighting health (with an increase of 1.5%) and transportation (0.8%). The greatest monthly drop occurred in the recreation and culture group (-1.7%).

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


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