MercoPress. South Atlantic News Agency

Falling inflation and unemployment in Chile

Chile last March recorded a retail price index increase of 0,4%, the lowest since 1998 according to a release from the National Statistics Office.

Accumulated inflation in the first quarter of 2004 reached 0.2%, and in the last twelve months (March-March) was negative, -0,7%. This is also the lowest in record since 1932 when the index was -1,9%.

In the last twelve months the items with most inflationary impact have been cigarettes, drinking water and school and university tuition.

During March 2004, Education and Leisure increased 2%, Clothing 1,3%, Transport 0.9% and Food 0,2%. Housing dropped -0,4% and similarly Others, -0,4%. Health services remained unchanged.

The Chilean Statistics Office also released the latest national unemployment index 7,4%, which corresponds to the December-February quarter.

This represents half a point less than a year ago and is the lowest since 1997.

Unemployment in Magallanes Region is the fifth lowest of the country with 5,6%, meaning 3,930 residents of the region are jobless, of which 3,570 from Punta Arenas.

A year ago unemployment in Magallanes Region stood at 6,1% and in the previous quarter 5,8%. The current index is made up of 4,8% hard core unemployed and 0,8% first time job seekers.