Latest reading: Consumer prices were up 2.4% on a year-on-year basis in November, following a 2.5% rise in the prior...
Inflation in Chile
Inflation over the last decade was managed within the central bank's target range of 2 to 4% in the first part of the decade. However, social unrest in 2019, global supply disruptions and fiscal stimulus brought on by the COVID-19 pandemic led to increased inflationary pressures. The central bank responded with monetary tightening to control rising prices. This had the desired effect; inflation subsided in 2023 and 2024. That said, price pressures saw some upward pressure in late 2024 and heading into 2025 due to several rounds of electricity tariff hikes.
In the year 2024, the inflation in Chile was 4.27%, compared to 4.71% in 2014 and 7.58% in 2023. It averaged 4.64% over the last decade. For more inflation information, visit our dedicated page.
Chile Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Chile from 2014 to 2025.
Source: Macrobond.
Chile Inflation Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 3.0 | 4.5 | 11.6 | 7.6 | 4.3 |
| Inflation (CPI, ann. var. %, eop) | 3.0 | 7.2 | 12.8 | 3.9 | 4.5 |
Inflation decelerates in October from September
Latest reading: Consumer prices were up 3.4% on a year-on-year basis in October, following a 4.4% rise in the previous month. Relative to the prior month's figures, there were milder price pressures for food and non-alcoholic beverages (+3.1% on a year-on-year basis vs +4.9% in September) and housing, utilities and fuel (+6.9% vs +9.8% in September). In contrast, price pressures were higher for transportation in October (+0.8% vs +0.4% in September). Meanwhile, core consumer prices were up 3.0% on a year-on-year basis in October, following a 3.4% rise in the previous month. Finally, consumer prices were stable in October on a month-on-month basis, following a 0.44% rise in the prior month.
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 41 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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Israel: Inflation decelerates in November from October -
Canada: Inflation stabilizes in November from October Latest reading: Consumer prices were up 2.2% in annual terms in November, stable from the previous month’s reading. The November... -
Bulgaria: Inflation eases in November from October Latest reading: Consumer prices rose 5.2% in annual terms in November, following a 5.3% rise in the previous month. Relative... -
Sweden: Inflation slows in November from the prior month Latest reading: Consumer prices with a fixed interest rate (CPIF) rose 2.3% in annual terms in November, following a 3.1%... -
Romania: Inflation stabilizes in November from the prior month Latest reading: Consumer prices were up 9.8% in annual terms in November, unchanged from the prior month’s reading. Relative to... -
Czech Republic: Inflation eases in November from the prior month Latest reading: Consumer prices rose 2.1% in annual terms in November, following a 2.5% rise in the previous month. November’s... -
Argentina: Inflation accelerates in November from October Latest reading: Consumer prices were up 31.4% in annual terms in November, following a 31.3% increase in the prior month....