Macroeconomic Forecast Chile

Chilean inflation surged to an 11-month high in May according to latest data from the Instituto Nacional de Estadísticas, with the headline print coming in at 1.5% year-on-year (y-o-y), increasing from 0.9% and 0.3% in April and March respectively. In month-on-month terms, CPI rose 0.4%, compared to 0.5% and 0.1% the previous two months. Going forward, we believe Chile's robust economic recovery will push inflation higher through H210, and forecast CPI coming in at 3.6% by end-year.

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