LatinNews Daily - 09 March 2022

In brief: Chile’s inflation continues to rise

*Chile’s national statistics institute (INE) has released new data for the consumer price index (IPC) which show monthly inflation in February was 0.3%, bringing the 12-month rate to 7.8%. According to the INE report the sectors which registered the highest monthly inflation were food and non-alcoholic drinks (1.8%) and housing & basic services (0.9%). Chile’s inflation closed December 2021 at 7.2% - well beyond the 3% target set by the central bank (BCCh). At the end of January the BCCh raised interest rates to their highest level since 2008, increasing the benchmark interest rate by 150 basis points to 5.5% in response to mounting inflation.

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