In Chile, clothing represents 5 per cent of the index so is a key component of inflation. But 11 managers at Chile’s state statistics agency, INE, have written to Francisco Labbé, the institute’s chief, complaining at what they see as a failure to implement methodological changes over how to measure clothing prices.
The upshot? Chile’s inflation statistics are being discredited, they say. Read more
Chile’s latest monetary policy report (IPoM) from the Central Bank (BCCh) paints a rosy picture to end the year on – more inflation and less growth in 2013. That’s nice. Read more
The Central Bank of Chile has announced year-on-year GDP growth of 5.7 per cent in the third quarter, beating consensus forecasts of 5.4 per cent. Domestic demand drove GDP growth despite external factors that are proving to be a drag on the economy. Read more
Chile got a nice surprise on Friday, in the shape of unexpectedly low inflation numbers. But there was a rather nastier surprise for one its flagship companies, Cencosud: market uncertainty has forced it to slash the size of its upcoming IPO in the US.
Central banks tend spend a lot of time and energy combating inflation, so it must have been an especially pleasant start to the weekend for Chile’s monetary authority to find that inflation was a non-event in May. Read more