LatinNews Daily - 12 July 2022

In brief: Chile’s Boric announces aid amid spiralling living costs

*Chile’s President Gabriel Boric has announced new measures to help the most vulnerable in response to surging inflation. These include a one-off winter payment to the most vulnerable families worth Cl$120,000 (US$121) which will help over 7.5m Chileans, extends a benefit for new mothers and expands an initiative to boost formal employment. This comes as annual inflation was running at 12.5% in June and follows the decision by Chile’s central bank (BCCh) last month to raise the benchmark interest rate from 8.25% to 9.0% in response to the rise in inflation.

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