Advanced Search

LatinNews Daily - 11 October 2021

Click here for printer friendly version
Click here for full report

In brief: Chile’s inflation keeps rising

* Chile’s national statistics institute (INE) has released the latest figures for the consumer price index (IPC), which show that monthly inflation reached 1.2% in September, the highest figure for this month since 2008. This brings annual inflation to 5.3% in September, well outside of the central bank’s (BCCh) 2%-4% target range. “This [monthly] increase, considerably larger than expected, concerns us due to its effects on households, particularly the most vulnerable, which are seeing their purchasing power shrink”, economy minister Lucas Palacios said on Twitter. Palacios said that money must stop being injected in the economy, notably referencing a project to allow Chileans to make a fourth withdrawal from their pensions and which awaits approval from the senate, and which the government warns will push up inflation further.