Chile Inflation Hits Four-Month Low

Chile's annual inflation rate eased to 3.5% in July 2026 from 4.3% in June, marking the lowest annual CPI increase since March. The main upward pressures came from restaurants and lodging (6.6%), education (5.9%), healthcare (5.1%), transport (4.6%), recreation, sports, and culture (4.4%), and food and non-alcoholic beverages (4.0%). In contrast, prices fell for clothing and footwear (-4.8%) and insurance and financial services (-3.4%). On a monthly basis, consumer prices rose 0.1% after remaining unchanged in June, bringing year-to-date inflation to 2.9%. Core consumer prices increased 0.4% month-on-month after declining 0.1% in June.

Chile's annual inflation rate inched up to 4.3% in June 2026 from 3.9% in the prior month, marking the highest reading since September 2025. The main upward pressure came from prices of transportation (8.6% vs 10.1%); restaurants & hotels (6.5% vs 6.5%); education (5.9% vs 5.9%); food & non-alcoholic beverages (4.2% vs 2.5%); housing & utilities (4.3% vs 4.2%) and alcoholic beverages & tobacco (3.4% vs 2.6%). Conversely, prices decreased for clothing & footwear (-4.76% vs -4.9%) and insurance & financial services (-1.8% vs -4.4%). On a monthly basis, the CPI was flat, after increasing by 0.2% in May and against market forecasts of a 0.2% decrease. Prices rose in eight of the 13 categories, with insurance & financial services registering the highest rate (3.4%). Core consumer prices edged down by 0.1% in June, after a 0.4% rise in the month before.

Chile's annual inflation rate was little changed at 3.9% in May 2026, compared with 4.0% in April. The strongest price pressures continued to come from transport (10.1%), followed by restaurants and lodging (6.5%), education (5.9%), healthcare (5.6%), and housing and utilities (4.2%). In contrast, prices declined for clothing and footwear (-4.9%) and insurance and financial services (-4.4%). On a monthly basis, consumer prices rose 0.2%, easing sharply from the 1.3% increase recorded in April. In the first five months of the year, inflation accumulated to 2.8%, indicating that price growth remained moderate despite persistent pressures in transportation and services.