LatinNews Daily - 09 February 2023

In brief: Chile’s inflation remains high

* Chile’s national statistics institute (INE) has released new figures which show monthly inflation in January was 0.8%, up from 0.3% in December, while the 12-month rate was 12.3%, down from 12.8% in December. The INE highlighted monthly price rises in food & non-alcoholic drinks (+1.0%) and alcoholic beverages & tobacco (+2.7%). However, it noted a monthly decrease in transport costs (-0.2%). Although the annual rate of inflation is slightly down from the previous month, it continues to remain well above the 3% target set by Chile’s central bank (BCCh) which last month announced it was keeping its benchmark interest rate unchanged at 11.25%.

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