LatinNews Daily - 09 November 2021

In brief: Chile’s inflation continues to rise

* 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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