Producer prices in Chile decreased 0.2 percent year-on-year in January 2019, following a 1.0 percent gain in the previous month. It was the first fall in producer prices since October 2016, as cost of mining & quarrying dropped further (-2.9 percent compared to -0.5 percent in December), mostly due to copper (-6.3 percent) and crude oil (-5.4 percent). Also, prices slowed for manufacturing (4.1 percent compared to 4.3 percent). On the other hand, cost of electricity, gas and water supply declined less (-2.8 percent compared to -3.6 percent). On a monthly basis, producer prices went down 1.8 percent, after decreasing 0.3 percent in December. Producer Prices Change in Chile averaged 4.33 percent from 2010 until 2019, reaching an all time high of 38.90 percent in January of 2010 and a record low of -13.21 percent in July of 2012.
Producer Prices Change in Chile is expected to be 1.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Producer Prices Change in Chile to stand at 3.40 in 12 months time. In the long-term, the Chile Producer Prices Change is projected to trend around 7.80 percent in 2020, according to our econometric models.