Chile’s consumer prices increased 0.6% in August compared with the previous month, the national statistics agency INE reported on September 8. Reuters said the increase exceeded the 0.3% rise expected in its poll of economists.
INE identified food and non-alcoholic beverages and transportation as notable sources of upward pressure. Nine of the 13 sectors included in the survey registered monthly price increases. Food and non-alcoholic beverage prices rose 1.4%, according to the agency’s statement cited by Reuters.
The release provided a new official measure of inflation conditions relevant to national economic policymaking. It was a statistical development rather than an announcement of a government subsidy, a tax increase or an interest-rate adjustment. The 0.6% figure measured the month-to-month change in the consumer-price index, while the food figure described one component of that index. Neither should be substituted for an annual inflation rate. The comparison with economists’ expectations established that the increase was larger than forecast, without demonstrating that any particular subsequent policy response had already been agreed.