Inflation: No change registered in the Consumer Price Index for January

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SANTIAGO.- The Consumer Price Index has reported no changes for January of 2008, revealing the month's lowest figure in 3 years. According to the National Statistics Institute (INE) this new data brings the 12-month variation to 7.5%.

Price decreases were registered during the month of January in the groups of Clothing (-1.1%), Foodstuffs (-0.7%), Transportation (-0.1%) and Household Appliances (-0.1%).  Areas registering price increases included Health (1.1%), Housing (0.3%) and Others (0.3%).

Today's figure does not correspond to market estimates. While Santander Investment had predicted the CPI for the month to be at -0.1%, a poll taken by Reuters had suggested 0.2% inflation for January.

During 2007, Chile reported an inflation rate of 7.8%, the highest rate reported in 12 years and far above the 3.0% goal that had been set by the Central Bank, allowing for a margin of one percentage point above or below this figure.

For 2008, the Central Bank has predicted an inflation rate of 4.5%.