Chile Annual Inflation Slows to 2021-Lows

Chile’s annual inflation rate eased to 2.8% in January 2026, the lowest since February 2021, from 3.5% in December. Price pressures were strongest in restaurants and lodging (6.3%), followed by education (5.4%) and healthcare (4.9%). Food prices rose 4.1%, while housing and utilities increased 4.0%. In contrast, transport costs fell 1.1%, with deflation also recorded in clothing and footwear (-4.6%) and insurance and financial services (-1.9%). On a monthly basis, consumer prices rose 0.4% in January, reversing a 0.2% decline in December.

Chile’s annual inflation edged up to 3.5% in December 2025 from 3.4% in November. Price pressures intensified in food and non-alcoholic beverages (4.2% vs 3.6%), alcoholic beverages and tobacco (3.1% vs 2.2%), household equipment and maintenance (0.9% vs 0%), healthcare (4.8% vs 4.4%), information and communication (0.2% vs 0%), and restaurants and lodging (6.7% vs 6.6%). By contrast, deflation deepened in clothing and footwear (-3.7% vs -1.8%) and re-emerged in insurance and financial services (-2.8% vs 0.4%). Inflation also cooled in housing and utilities (6.5% vs 6.7%), transport (0.7% vs 1.2%), and recreation, sports and culture (1.8% vs 1.9%). On a monthly basis, consumer prices fell 0.2% in December, reversing a 0.3% increase in November.

Chile’s annual inflation rate was at 3.4% in November of 2025, remaining unchanged from the three-year low in the previous month. Most categories saw only minor shifts. Prices accelerated for food and non-alcoholic beverages (3.6% vs 3.1% in October), healthcare (4.4% vs 4.2%), transport (1.2% vs 0.8%), and education (5.3% vs 5.2%). Clothing and footwear posted deflation (-1.8% vs -3%). In turn, inflation eased for alcoholic beverages and tobacco (2.2% vs 3.6%), housing and utilities (6.7% vs 6.9%), and recreation, sports, and culture (1.9% vs 3.2%). Restaurants and lodging (6.6%) and household equipment and maintenance (0% vs 0.9%) saw stable or unchanged readings. Month-on-month, consumer prices rose 0.3%, after a flat reading in October.