Chile | June’s CPI rose 0.4% MoM above market expectations, caused by specific products

June’s CPI increased by 0.4% (4.2% YoY), which surprised market expectations (at 0.3% MoM) but was in line with our forecast. Foodstuffs and Transportations items were the main contributors to the increase in prices. We expect July’s CPI to increase in a range between 0% and 0.1% MoM. All in all, we maintain our forecast for 2016 at 3.2%YoY eop and below 3% in 2017.

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