Friday, January 4, 2008

Chile Inflation December 2007

Chilean consumer prices climbed more than expected in December, boosting expectations that policy makers will raise interest rates next week to slow what is now the fastest annual inflation rate in almost 12 years. Consumer prices rose 0.5 percent in December, the government-run National Statistics Institute said yesterday in Santiago. The annual rate rose to 7.8 percent, the highest level since June 1996. The month on month rate of 0.5% however was down on November's 0.9% rise as fresh food prices dropped 0.8% on the month.

Housing costs, including basic services, and transportation both rose 1.4 percent from the previous month, following a 21 percent increase in long-distance bus fares and a 16 percent rise in the price of airline tickets. Core inflation, which strips out the prices of minus fresh fruit, vegetables and fuel, accelerated 0.9 percent in the month and 6.3 percent from December last year, the institute said.

The central bank voted unanimously last month to raise the benchmark interest rate by a quarter-point for the fourth time since July, citing an unexpected rise in inflation. Policy makers were concerned that faster inflation would spread across the economy and affect inflationary expectations, according to the minutes of the meeting released yesterday.

Chile's economy more than doubled dollar terms in the three years ending 2006 as surging demand for the country's exports stoked expansion of what is Latin America's fourth-largest economy.

Annual inflation has accelerated from 2.6 percent in 2006 to close out 2007 at a level that is almost double the central bank's target of 3 percent plus or minus 1 percentage point.

The bank's monetary policy council has pushed up the overnight rate to 6 percent from 5 percent last June - up from as low as 1.75 percent in September 2004 - as the economy and inflation have accelerated.

The peso strengthened for a third day on the back of the news, rising 0.1 percent to 495.72 per dollar at 12:51 p.m. New York time from 496.42 per dollar late yesterday.

1 comment:

house san antonio said...

black mold exposureblack mold symptoms of exposurewrought iron garden gatesiron garden gates find them herefine thin hair hairstylessearch hair styles for fine thin hairnight vision binocularsbuy night vision binocularslipitor reactionslipitor allergic reactionsluxury beach resort in the philippines

afordable beach resorts in the philippineshomeopathy for big with great mineral makeup bargainsmineral makeup wholesalersprodam iphone Apple prodam iphone prahacect iphone manualmanual for P 168 iphonefero 52 binocularsnight vision Fero 52 binocularsThe best night vision binoculars here

night vision binoculars bargainsfree photo albums computer programsfree software to make photo albumsfree tax formsprintable tax forms for free craftmatic air bedcraftmatic air bed adjustable info hereboyd air bedboyd night air bed lowest pricefind air beds in wisconsinbest air beds in wisconsincloud air beds

best cloud inflatable air bedssealy air beds portableportables air bedsrv luggage racksaluminum made rv luggage racksair bed raisedbest form raised air bedsbed air informercialsbest informercials bed airmattress sized air beds

bestair bed mattress antique doorknobsantique doorknob identification tipsdvd player troubleshootingtroubleshooting with the dvd playerflat panel television lcd vs plasmaflat panel lcd television versus plasma pic the bestadjustable bed air foam The best bed air foam

hoof prints antique equestrian printsantique hoof prints equestrian printsBuy air bedadjustablebuy the best adjustable air bedsair beds canadian storesCanadian stores for air beds

migraine causemigraine treatments floridaflorida headache clinicdrying dessicantair drying dessicantdessicant air dryerpediatric asthmaasthma specialistasthma children specialistcarpet cleaning dallas txcarpet cleaners dallascarpet cleaning dallas

vero beach vacationvero beach vacationsbeach vacation homes veroms beach vacationsms beach vacationms beach condosmaui beach vacationmaui beach vacationsmaui beach clubbeach vacationsyour beach vacationscheap beach vacations

bob hairstylebob haircutsbob layeredpob hairstylebobbedclassic bobCare for Curly HairTips for Curly Haircurly hair12r 22.5 best pricetires truck bustires 12r 22.5

washington new housenew house houstonnew house san antonionew house venturanew houston house houston house txstains removal dyestains removal clothesstains removalteeth whiteningteeth whiteningbright teeth

jennifer grey nosejennifer nose jobscalebrities nose jobsWomen with Big NosesWomen hairstylesBig Nose Women, hairstyles