The annual inflation rate in Chile fell to 1.7 percent in February 2019 from 1.8 percent in the previous month. It was the lowest inflation rate since September 2017, as prices slowed for transport (1.5% vs 1.8% in January); health (2.2% vs 2.5%); education (4.0% vs 4.4%); restaurants & hotels (3.3% vs 3.8%); and miscellaneous goods & services (2.7% vs 3.0%). Also, cost of communications continued to fall (-4.4%, the same as in January). Meanwhile, prices rose further for food & non-alcoholic beverages (1.2% vs 1.1%); housing & utilities (3.7% vs 3.6%); recreation & culture (0.2% vs 0.1%); furnishings (0.6% vs 0.5%) and alcoholic beverages & tobacco (3.3% vs 3.2%). Additionally, cost of clothing & footwear rebounded (0.5% vs -0.7%). Core consumer prices went up 0.3 percent month-over-month, after a 0.4 percent gain in January. On a monthly basis, consumer prices were unchanged, following a 0.1 percent rise in the prior month. Inflation Rate in Chile averaged 41.40 percent from 1951 until 2019, reaching an all time high of 746.30 percent in April of 1974 and a record low of -3.40 percent in November of 2009.
Inflation Rate in Chile is expected to be 1.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Chile to stand at 3.00 in 12 months time. In the long-term, the Chile Inflation Rate is projected to trend around 3.00 percent in 2020, according to our econometric models.