LatinNews Daily - 09 May 2023

In brief: Chile’s annual inflation back to single digits

* Chile’s national statistics institute (INE) has released new figures which showed that monthly inflation in April was 0.3%, while yearly inflation stood at 9.9%. This is down from the monthly inflation of 1.1% in March, when yearly inflation stood at 11.1%. The INE noted that the highest monthly price increases were in health (1.5%), and transport (0.8%), while highlighting a decrease in recreation & culture (-1.7%). The latest inflation projections, published on 3 May by Chile’s central bank (BCCh) in its monetary policy report (IPoM), forecasted that total inflation will continue to reduce slowly in the coming quarters, but will end 2023 at 4.6%, higher than projected in the previous report. The BCCh projects that inflation will converge to the 3% target in the latter part of 2024.

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