Chile’s inflation surged to 4.6% in July amid rising housing & electricity costs

Posted on August 16, 2024   |  

Chile's inflation rose to 4.6% in July 2024, continuing a four-month upward trend in prices.

The Consumer Price Index (CPI) increased by 0.7% in July, leading to a 3.1% rise so far this year, signaling ongoing inflation concerns.

Housing and Basic Services costs jumped by 2.2%, driven by a 12% increase in electricity prices and a 2.9% rise in common expenses, contributing to the overall inflation.

The Equipment and Home Maintenance sector saw a 2.1% increase, with furniture and household appliances rising by 9.1% and 2.5% respectively, adding to the CPI.

Some sectors experienced price decreases, such as the Health division, which saw a 0.1% drop, slightly offsetting the overall inflation.

Chile's inflation rate climbed from 4.2% in June to 4.6% in July, a shift from the previous month’s 0.1% decrease in consumer prices.

The core CPI, excluding volatile items, fell by 0.6% in June, marking the largest decline in core prices in over a decade.