Inflation surpasses projections, reaching 1.1% for September

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SANTIAGO.- The Consumer Price Index (CPI) registered a 1.1% increase during September, making for an accumulated 7.6% so far this year.

Additionally, the National Institute of Statistics (INE) reported a 9.2% rise over the last 12 months.

The market had forecasted inflation to reach only 0.8% for the ninth month of this year.

During September of 2007, the CPI was also reported to be 1.1%. Meanwhile, in August of this year, the CPI reached 0.9%.

In 2007, Chile registered an inflation rate of 7.8% - it's most significant increase in 12 years. Over the next 12 months, during August of 2008, inflation was situated at 9.3%, down from 9.5% in July.

In September, the central bank aggressively raised its inflation forecast for 2008 to 8.5% amid a constant increase in food and energy prices.

The most significant hikes registered during September of this year corresponded to the groups of:  Others (2.6%), Transportation (1.6%), Housing (1.3%), Food (1.3%), Clothing (0.6%), Education and Recreation (0.5%) and Home Appliances (0.2%).

Meanwhile, the only group with a decline in prices was Healthcare (-0.1%).