“In the eighth month of the year, the twelve divisions that make up the CPI basket contributed positive impacts on the monthly variation of the index,” said the INE in its report. The increases in food and non-alcoholic beverages with 2.0% and transport with 1.6% stood out, he indicated.
The market expected inflation of 1.0% in the month. At the product level, gasoline, beef and chicken meat, bread and intercity buses stood out among those with the greatest progress.
Inflationary pressures in the world’s largest copper producer led the Central Bank this week to raise the benchmark interest rate to 10.75%. In addition, the day before, the governing body projected that inflation will end December of this year at 12%.
Rosanna Costa, president of the Central Bank, explained that the higher projections for the CPI are explained by the increase in the exchange rate, its long-term projection and inflation expectations.
Since 1992, such a high 12-month CPI figure has not been recorded in Chile. It was in September, when the IPC marked a variation in one year of 15.1%. In fact, in January 1992 it had even reached 19.5% per year, although the inflationary phenomenon gradually eased to close in December 1992 at 12.7%. Between October 1982 and September 1994, all annual inflation records were double digits, and even in August 1985 it rose above 36%. In October 1994, the indicator fell to one digit (8.3%), and since then it has started to decline.
Source: Ambito
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