Consumer prices in Chile rose 0.4% in Septemberin line with expectations, reported on Wednesday the state National Institute of Statistics, INE.
In twelve months, inflation increased 4.4%, above the Central Bank’s tolerance range of between 2 and 4%. In August, consumer prices had not changed but 12-month inflation had moderated to 4%.
Economists consulted by Reuters and operators surveyed by the Central Bank had pointed to a 0.4% increase in consumer prices in the ninth month of the yearwhen in Chile the National Holidays are commemorated with several holidays.
“Nine of the thirteen divisions that make up the CPI basket provide positive impacts on the monthly variation of the index, three presented negative impacts and one registered zero impact”the INE said in a report.
Among the divisions that showed price increases were food and non-alcoholic beverages, recreation, sports and culture. Information and communication registered drops. At the beginning of September, the Chilean Central Bank decided to maintain the reference interest rate at 4.75%, as the market expected, while it analyzes the risk of inflationary persistence. The next meeting will be at the end of October.
