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In
September, consumer prices increased by 0.84%. The September reading was
above
the 0.38% spike registered in August and exceeded market expectations of
0.2%. The main driver behind the September price hike were higher food
prices and, to a lesser extent higher prices for transport and housing.
In particular, prices for fresh fruits and vegetables shot upwards by an
unprecedented monthly rate of 11.46%. Fuels also experienced a
strong 3.47% surge amid rising oil prices. Consequently, the core
inflation index, which excludes these more volatile items advanced at a
much more moderate 0.32%.
Despite
the strong surge in consumer prices, the annual headline inflation rose
only 0.1 percentage point from 2.2% in August to 2.3% in September.
The annual core inflation rate even dropped 0.2 percentage points to 2.0%
from 2.2% in August.
More detailed information
available at the Chilean
Institute for Statistics (Instituto Nacional de Estadísticas (INE)).
Forecasts: This indicator is covered in the
LatinFocus Consensus Forecast. For 5-year projections, including quarterly forecasts for
the next two years, please click here
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