Chili recorded in July an increase of Consumer Price Index (CPI) of 1.4%, which leaves year-on-year inflation at 13.1%, the highest in 28 years, reported this Monday the National Institute of Statistics (INE).
According to the agency, the Consumer Price Index (CPI) accumulates an increase of 8.5% and 13.1% in 12 months so far this year, the maximum of records since 1994.
“Ten of the twelve divisions that make up the IPC basket contributed positive incidences in the monthly variation of the index, one presented a negative incidence and one registered no incidence,” the INE communicated through a statement.
Transportation, detailed the institution, recorded monthly increases in 8 of its 10 classes, the most important being fuel and lubricants for personal vehicles, with 4.6%. While the mobilization of passengers by urban roads and highways contributed 5.5%. In this division, 17 of the 24 products that comprise it presented price increases, the most relevant being gasoline with 4.6%.
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Ten of the twelve divisions that make up the IPC basket contributed positive effects to the monthly variation of the index.
Food and non-alcoholic beverages recorded monthly increases in three of their five classes, highlighting the increase in meat with 3.1% and fruit with 5.1%. 58 of the 76 products that make up this division presented increases in their prices.
Chile closed 2021 with inflation that reached 7.2%, the highest in 14 years, which led the Central Bank to take unprecedented measures and quickly withdraw the monetary stimulus that it applied with the start of the pandemic, in March 2020 .
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In June, the Central Bank increased the Monetary Policy Rate by 75 basis points to take it to 9%, its highest value in two decades, in an attempt to curb the rise in domestic prices.
Fiscal aid to mitigate the impact of the pandemic and the three early withdrawals from pension funds approved by Congress unleashed consumption.
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The Chilean GDP growth estimates for this year, according to the Central Bank, are located in a range between 1% and 2%, compared to the 1.5% and 2.5% that it had forecast, and warned of a risk of recession by 2023.
EFE
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