Chile | CPI with no monthly variation in November, while activity remain weak in October

Summary

CPI showed a 0.0% MoM figure in November (+3.9% YoY; 4.4% YtD), in line with our view but below consensus (at +0.1% MoM). On another hand, economic activity increased 1.5% YoY, below both our estimates and the consensus expectations (at +2.2% YoY). All in all, activity and inflation figures support the option for another pause at 3.25% in the policy rate during December.

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