March inflation rises 0.4%

SANTIAGO.- According to information released today by the National Institute of Statistics, the Consumer Price Index (CPI) registered a monthly variation of 0.4% for March, breaking the four-month patter of negative figures.

The variation during March can be attributed principally to increased inflation in the sectors of Education (8.6%), as well as Alcoholic Beverages and Tabacco (4.3%).  Meanwhile, the figure was partially countered by a decrease in Transportation (-1.0%), Lodging, Water, Electricity, Gas and Other Fuels, (-0.7%), as well as Non-Alcoholic Food and Beverages (-0.5%).

The market had projected a 0.45% increase in inflation for the third month of 2009.

In February of this year, the CPI registered a drop of 0.4%, reporting the lowest figure for the month in 17 years. Meanwhile, internal prices rose by 0.8% during March of last year.

For 2009, the Central Bank has forecasted an annual inflation figure of 3.1%.

With the March CPI, the "Unidad de Fomento" (UF) monetary unit has seen an increase of $83.74 pesos in 31 days, taking it to $21,019.13 pesos on May 9th of this year.