Inflation dropped to -0.8% in January

SANTIAGO.- The Consumer Price Index (CPI) registered in January of 2009 showed a monthly variation of -0.8%, the lowest for this month of the year since 1943, according to a report released today by the National Institute of Statistics (INE).

With this value, the accumulated 12 month inflation is at 6.3%. Additionally, this decrease in the index will bring the UF down to $169.51 in 31 days.

This is the third month in a row in which the inflation of the CPI is negative (-0.1% in November and -1.2% in December).

Market analysts had forecasted a decrease in inflation of 0.4% for the first month of 2009.

The greatest price drops were registered in Clothing and Shoes (-10.5%) and transportation (-1.7%).