Chile consumer prices up by higher-than-expected 1.4% in April -Breaking
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© Reuters. As a precautionary measure, a man is wearing a gas mask inside a supermarket. This was done in response to the COVID-19 outbreak, which occurred March 25, 2020, in Santiago, Chile. REUTERS/Ivan Alvarado2/2
SANTIAGO, (Reuters) – Chile’s consumer price index rose 1.4% in April due to rising food and beverage costs, according to the statistics agency of government.
The increase was due in part to higher education and leisure costs. But, the figure was below the 1.9% rise seen the month before.
The National Statistics Institute reported that 12-month inflation reached 10.5% according to their data, which is well above the target rate of 2%-4% set by the central bank.
This data is available a day following Chile’s central banks hike of the interest rate to 8.25%.
It was the latest of a series of inflation-controlling hikes that the bank made since mid-2013. This is because the Andean producer has rebounded strongly from the impacts of the coronavirus pandemic.
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