Inflation refuses to let up, reaching 1.5% in June

SANTIAGO.- The Consumer Price Index (CPI) for has June indicated a monthly surge of 1.5%, bringing the accumulated inflation figure for the first six months of the year to 4.3%.

The market had forecasted an inflationary rise of 1.2% for the sixth month of the year.

The rise marks the highest jump in inflation for the month of June since 1991, when the figure reached 1.8%.  Additionally, it is the most significant increase since October of 1993, when inflation rose by 2.6%.

According to the Instituto Nacional de Estadísticas (INE), the variation over the last 12 months has reached 9.5%, which is the highest figure since June of 1994, when the 12-month inflation rate climbed to 14.4%.

The information released today will cause the UF monetary unit to significantly increase for this month, reaching a value of CLP $20,630.19 by the 9th of August; indicating a hike of $353.31 compared to today’s value. 

According to the INE, the most significant price increases were registered within the groups of Transportation (3.6%), Foodstuff (2.3%) and Others (1.6%).