Chilean analysts forecast 3 pct inflation for 2024-Xinhua

Chilean analysts forecast 3 pct inflation for 2024

Source: Xinhua

Editor: huaxia

2024-02-13 10:20:15

SANTIAGO, Feb. 12 (Xinhua) -- Chilean market analysts have forecast 3 percent inflation for 2024, in line with the Central Bank of Chile's target range, as consumer prices saw a smaller cumulative increase of 3.8 percent in the 12 months ending in January, the bank said Monday.

Economists surveyed by the bank for its February Economic Expectations Survey said they expect 0.2 percent inflation this month and 0.4 percent in March after seeing 0.7 percent inflation in January, higher than the experts had predicted.

Analysts expect gross domestic product to see 0.5 percent growth in the current quarter and 1.7 percent growth in total in 2024.

As for the benchmark interest rate, analysts expect it to drop to 6.25 percent in April from the current rate of 7.25 percent.

Chile's central bank said in January it would cut the benchmark interest rate to reach a "neutral level" of between 4 and 4.5 percent in the second half of the year.

Chile's economy contracted 0.2 percent in 2023, according to preliminary figures.