No menu items!

Chilean government forecasts inflation between 4 and 5% at the end of 2023

Chile foresees that inflation will close this 2023 between 4 and 5 percent, affirmed yesterday, Wednesday, by the deputy minister of Finance, Claudia Sanhueza.

The official told journalists they foresee a systematic drop in the annual inflation variation for this year, which will be “very positive for the families that are being most affected” by the price rise.

The Consumer Price Index (CPI), which measures inflation, rose more than expected in the last month.

“However, its annual decrease “reaffirms the downward trend, which is what we expect, ” said Sanhueza.

Chile Central Bank. (Photo internet reproduction)
Chile Central Bank. (Photo internet reproduction)

Chile registered monthly inflation of 0.8 percent last January, higher than expected by market analysts (0.5 percent), which accumulated 12.3 percent in 12 months, its lowest level since May of the previous year, the National Institute of Statistics reported on Wednesday.

In 2022, the country closed with a cumulative price increase of 12.8 percent amid the economic crisis that pushed inflation to its highest level in three decades.

The Central Bank of Chile projected a decrease in inflation at the end of this year, to return to the target range of 2 and 4 percent in 2024.

Check out our other content