Inflation reaches 1.1% for July, exceeding market estimates yet again

SANTIAGO.- The Consumer Price Index (CPI) surged 1.1% percent during July, bringing the accumulated inflation rate for the first seven months of the year to 5.5%.

The market had predicted a 0.8% rise in inflation for July of this year.

Meanwhile, the National Institute of Statistics (INE) announced that the new figure has brought the rate of inflation observed over the last 12 months to 9.5%.

With the information revealed today, the UF monetary unit will be raised significantly during this month, reaching $20,857.12 pesos by September 9th, representing a jump of $266.53 pesos compared to today’s value.

All groups considered within the CPI calculation experienced price hikes during July.