Chile: Inflation ebbs in January from December
Latest reading: Consumer prices rose 2.8% on a year-on-year basis in January, following a 3.4% rise in the prior month. January’s reading was the weakest since November 2020.
Relative to the previous month’s figures, there were milder price pressures for food and non-alcoholic beverages (+4.1% on a year-on-year basis vs +4.2% in December), housing, utilities and fuel (+4.0% vs +6.5% in December) and transportation (-1.1% vs +0.7% in December).
Meanwhile, core consumer prices increased 2.7% on a year-on-year basis in January, following a 2.8% increase in the prior month.
Lastly, consumer prices rose 0.41% in January on a month-on-month basis, following a 0.19% fall in the previous month.
Panelist insight: On the reading and near-term outlook, Goldman Sachs’ Sergio Armella said:
“We note that inflation readings for the core goods category were somewhat volatile throughout 2025, and we expect the currency appreciation observed in recent months to support favorable tradable goods inflation prints in the months ahead. We do not assess significant demand side pressures on inflation.”