Inflation fell to 0.4% in August, below July’s 0.8%. August’s figure represented the lowest inflation rate since April. Looking at...
Inflation in Chile
In Chile, inflation from 2013 to 2022 was largely managed within the central bank's target range of 2 to 4%. However, social unrest in 2019 and the COVID-19 pandemic in 2020 disrupted this stability, leading to increased inflationary pressures. By 2022, inflation had risen significantly, driven by global supply chain disruptions, increased fiscal spending, and recovery demands. The central bank responded with monetary tightening to control rising prices.
Consumer price inflation in Chile averaged 4.1% in the ten years to 2022, below the Latin America regional average of 8.4%. The 2022 average figure was 11.6%. For more inflation information, visit our dedicated page.
Chile Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Chile from 2021 to 2018.
Source: Macrobond.
Chile Inflation Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 2.6 | 3.0 | 4.5 | 11.6 | 7.6 |
| Inflation (CPI, ann. var. %, eop) | 3.0 | 3.0 | 7.2 | 12.8 | 3.9 |
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Chilean inflation projections for the next ten years from a panel of 37 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Chilean inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Chilean inflation projections.
Want to get access to the full dataset of Chilean inflation forecasts? Send an email to info@focus-economics.com.
Latest Global Inflation News
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Thailand: Inflation drops to lowest level since April in August -
Kazakhstan: Inflation drops in August Inflation ticked down to 8.4% in August from July’s 8.5%, though remaining entrenched above the Central Bank’s 5.0% medium-term target.... -
Korea: Inflation falls to lowest level since March 2021 in August Inflation fell to 2.0% in August, following July’s 2.6%. August’s reading represented the weakest inflation rate since March 2021, and... -
Indonesia: Inflation stabilizes in August Inflation remained at 2.1% in August, unchanged from July’s figure. August’s result marked the joint-lowest inflation rate since February 2022.... -
Peru: Inflation drops to lowest level since May in August Inflation inched down to 2.0% in August, following July’s 2.1%. August’s figure marked the weakest inflation rate since May, and... -
Euro Area: Inflation declines in August Harmonized inflation fell to 2.2% in August from July’s 2.6%. August’s figure represented the smallest increase since July 2021 and... -
Poland: Inflation ticks up in August Inflation rose to 4.3% in August from 4.2% in July, remaining above the upper limit of the Central Bank’s inflation...