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Inflation in Chile accumulates 11.4% increase in 2022

Chile registered inflation of 0.5 percent last October concerning the previous month and accumulated a rise of 11.4 percent so far this year, the National Statistics Institute (INE) reported Tuesday.

“In October 2022, the Consumer Price Index (CPI) recorded a monthly variation of 0.5 percent, accumulating 11.4 percent so far this year and a 12-month rise of 12.8 percent,” the institution said in a statement.

In detail, INE pointed out that eight of the 12 divisions that make up the CPI basket had a positive impact on the monthly variation of the index, three had a negative effect, and one had no impact at all.

Inflation in Chile accumulates 11.4% increase in 2022
Inflation in Chile accumulates 11.4% increase in 2022. (Photo internet reproduction)

He added that among the divisions with price increases were food and non-alcoholic beverages and transportation, while among the divisions with decreases were household equipment and maintenance.

After learning the results, the Minister of Finance, Mario Marcel, told journalists that Chile entered a period in which “we began to have inflation figures below what was expected. Inflation already reached its ‘peak’ (peak) in August”.

“The macroeconomic policy, the policy followed by the Central Bank, supported by the fiscal policy, is beginning to have an effect, and what we will see from now on, especially during the next year, will be systematic drops in inflation”, he said.



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