Latest reading: Consumer prices in Lima were up 1.7% on a year-on-year basis in January, following a 1.5% increase in...
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 stabilizes in December from the prior month
Latest reading: Consumer prices rose 3.4% on a year-on-year basis in December, unchanged from the prior month's reading. Relative to the previous month's figures, price pressures were higher for food and non-alcoholic beverages in December (+4.2% in annual terms vs +3.6% in November). In contrast, there were milder price pressures for housing, utilities and fuel (+6.5% vs +6.7% in November) and transportation (+0.7% vs +1.2% in November). Meanwhile, core consumer prices were up 2.8% on a year-on-year basis in December, following a 2.9% increase in the prior month. Lastly, consumer prices fell 0.19% in December in month-on-month terms, following a 0.26% rise in the previous 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 45 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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Peru: Inflation picks up in January from December -
Turkey: Inflation slows in January from December Latest reading: Consumer prices were up 30.7% on a year-on-year basis in January, following a 30.9% rise in the previous... -
Australia: Inflation picks up in December from November Latest reading: Consumer prices increased 3.7% on a year-on-year basis in December, following a 3.5% increase in the prior month... -
New Zealand: Inflation ticks up in Q4 Latest reading: New Zealand’s inflationary pressures strengthened toward the end of 2025, with the annual CPI rising to 3.1% in... -
Japan: Inflation eases to lowest since March 2022 in December Latest reading: Consumer prices were up 2.1% on a year-on-year basis in December, following a 2.9% rise in the prior... -
Croatia: Inflation ebbs in December from prior month Latest reading: Harmonized consumer prices rose 3.8% in annual terms in December, following a 4.3% increase in the prior month.... -
Hong Kong: Inflation rises in December from the prior month Latest reading: Consumer prices were up 1.5% on a year-on-year basis in December, following a 1.2% rise in the previous...