Chile’s Consumer Price Index (CPI) registered a monthly increase of 1.2% in August, rising 14.1% year-on-year, a level not seen since 1992, the National Institute of Statistics (INE) reported.
“In August, the consumer price index registered a monthly increase of 1.2 percent, making it 9.9 percent higher so far this year and 14.1 percent higher in the 12 months last,” the agency said.
According to INE, food and non-alcoholic beverages have recorded the highest price increases in July, with the most significant increase in meat, bread and cereal products.
There was also a monthly increase in the transport sector, with the largest increase in the following by-products: diesel and gasoline.
Housing rents, housing repairs and drinking water services also increased.
The Central Bank released a report this week saying that the consumer price index has risen this year due to external factors, such as the conflict between Russia and Ukraine, but also internal factors, such as the devaluation of the peso and a drop in investment. and predicted that cumulative inflation would reach 12% by the end of 2022.
The central bank raised the interest rate by 100 basis points to 10.75% to curb inflation.
