Chile consumer prices rise less than expected in August

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The August figure took 12-month inflation in the world's largest copper producer to 5.3%, down from the 6.5% reported in the previous month

Natalia Ramos and Gabriel Araujo, Reuters News

September 8, 2023

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Consumer prices in Chile rose 0.1% in August, data from statistics agency INE showed on Friday, well below market forecasts and likely backing the central bank's decision to cut interest rates.

The August figure took 12-month inflation in the world's largest copper producer to 5.3%, down from the 6.5% reported in the previous month, edging closer to the 3% target the bank expects to be reached in the second half of 2024.

Economists polled by Reuters had expected a 0.4% monthly rise in prices in the Andean country. (Reporting by Natalia Ramos and Gabriel Araujo; Editing by Kylie Madry)

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