Chile recorded inflation of 0.3% in March driven mainly by increases in education, in addition to food and non-alcoholic beverages, in a month marked by the arrival of the coronavirus pandemic in the country, the National Institute of Statistics (INE) reported.
The statistical body indicated that the Consumer Price Index (CPI) accumulated a 1.4% advance so far this year and 3.7% in 12 months, bringing it closer to the ceiling of the Central Bank’s range, ranging from 2% to 4%.
Nine of the twelve divisions that make up the CPI basket contributed positive impacts on the monthly index variation and three had negative incidents.
Among the divisions with increases stood education (3.5%), food and non-alcoholic beverages (0.8%) clothing and footwear (0.6%), while among those who recorded monthly declines in their prices stood out recreation and culture (-1.3%), transport (-0.9%) alcoholic beverages and tobacco (-0.3%).
By product, the main increases occurred in training courses (5.7%), university education services (3.3%) bread (2.2%).
The March variation, in line with what experts expected, compares with the 0.4% increase in February and 0.5% in March last year, the INE said.
Chile closed 2019 with inflation of 3% and gross domestic product (GDP) growth of 1.1%, due to the wave of protests that erupted in October against inequality and far from the projected 2.5% before the crisis.