Inflation registers 0.1% drop for November

SANTIAGO.- The Instituto Nacional de Estadística (INE) announced this morning that the Consumer Price Index (CPI) registered a monthly variation of -0.1% for November, which is the lowest figure for the month since 2006.

For the first time in 23 months, inflation figures are negative.

According to the newest statistic, the index has an accumulated increase of 8.4% for the second to last month of the year, while the 12-month variation is currently equal to 8.9%.

The figure released today can be largely explained by the 3.9% drop within the Transport sector due to a dive in international oil prices.

Today's inflation figure is much lower than the 0.8% figure reported for the same month last year, as well was the 0.9% figure from October of this year. Market forecasts had predicted that the CPI would drop 0.3% during the eleventh month of this year.