INSUBCONTINENT EXCLUSIVE:
The National Statistics Institute (INE) reported a 1% increase in October, surpassing market expectations
This surge brings the cumulative inflation rate to 4.5% for the year 2024 so far.The October report highlights significant price increases
in housing and basic services
Food and non-alcoholic beverages also saw notable price hikes
However, household equipment and maintenance costs decreased during this period.Annual inflation reached 4.7% over the past 12 months, up
from 4.1% in the previous month
Consumer Price Index (CPI) basket contributed positively to the monthly inflation rate
Only four divisions showed negative impacts
This imbalance suggests a widespread inflationary pressure across various sectors.Chile Inflation Reaches 4.5% in 2024
(Photo Internet reproduction)Housing and basic services experienced a 3.1% price increase
Electricity costs surged by 18.9% in just one month, significantly impacting household budgets
This sharp rise in utility prices puts additional strain on Chilean families.Food and non-alcoholic beverages saw a 2.2% price increase
Meat prices rose by 3.8%, while fruits and nuts became 3.5% more expensive
These increases affect daily living costs for many Chileans.Some sectors did see price decreases
Household equipment and maintenance costs fell by 1.5%
Furniture and household items dropped by 7%, while home textiles became 3.6% cheaper
In 2022, the country experienced a 12.8% inflation rate, the highest in three decades
The situation improved in 2023, with inflation dropping to 3.9%.Looking ahead, the Central Bank of Chile projects a year-end inflation rate
This forecast aligns with the current cumulative rate, suggesting ongoing economic challenges for the nation.
