LatinNews Daily - 11 April 2023

In brief: Inflation in Chile rises again

*Chile’s national statistics institute (INE) has released new figures which show monthly inflation in March was 1.1%, while yearly inflation stood at 11.1%. This is up from monthly inflation of -0.1% in February although the annual rate is down from 11.9%. The INE noted highest monthly price increases in education (10.8%), recreation & culture (2.2%), and clothing & footwear (1.7%), while noting a decrease in the price of transport (-0.7%), alcoholic drink & tobacco (-0.3%) and communication (-0.1%). The latest inflation figures come as Chile’s central bank (BCCh) published its inflation projections for 2023 in its latest monetary policy report (IPoM), in which it predicts that total inflation will continue to reduce slowly in the coming quarters, ending 2023 at 4.6%, higher than projected in the previous report. BCCh projects that inflation will converge to the 3% target in the latter part of 2024.

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