Experts raise projection for 2008 inflation from 8% to 8.5%

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SANTIAGO.- Experts surveyed by the September Economic Expectations Poll of the Central Bank have significantly raised the inflation forecasts for 2008 and 2009.

This time, analysts increased their 2008 inflation prediction from 8.0% registered during the last poll, to 8.5%.

The hike represents the seventh straight increase the poll has reported this year for the inflation forecast.

In the February poll, the inflation estimate was situated at 3.8% for 2008. Meanwhile, the figure was 4.3% in March, 4.4% in April, 4.7% in May, 5.5% in June, 7.5% in July, 8.0% in August. Additionally, the poll taken in September of 2007 had forecasted an inflation rate of 3.3% for December 2008.

Analysts also increased their inflation forecast for 2009, moving the figure from 4.5% to 4.9%, while predicting that the September CPI would reach 0.9%.