* Chile’s national statistics institute (INE) has released the latest figures for the consumer price index (IPC), which show that monthly inflation reached 1.3% in October. This brings annual inflation to 6.0% in October. Economy minister
Lucas Palacios tweeted that the increase surpassed expectations which were “
already high (0.9% and 1%)”, adding that this latest annual figure is
“double the target of the central bank (BCCh) which is bad news for families, particularly the most vulnerable”. He added that there are “
multiple factors” behind the price rises: “
opening up of the economy; external pressures; rise in exchange rate and high available liquidity”. He also warned that the approval of an initiative currently in the senate to allow Chileans to make a fourth withdrawal from their pensions would add further “
fuel to the fire”.
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