MercoPress. South Atlantic News Agency

Chile's consumer inflation in 2005: 3.7%

Chile's consumer prices index last December dropped 0.3% totalling an annual inflation in 2005 of 3,7%, in line with the Central Bank 2 to 4% target, but the highest since the 4.5% of the year 2000.

Chile's Statistics Office release shows that the prices with the highest incidence in the annual index were basic services, with an average positive variation of 8.9% representing 0.587 of the 3.7% surge.

Other significant items were Private Transport representing 0.561; Meats and by products 0.489; Education 0.349; Fruits and Vegetables 10.3%. Similarly with fuel which experienced an annual increase of 11.3%.

This means that the subjacent CPI, excluding volatile food and fuel items, actually increased 2.9%. Transable goods, which can be traded overseas, surged 3.9% on an annual basis, while the non Transable, 3.3%.

Wholesale prices in 2005 suffered a 3.2% increase, basically pushed by Agriculture & Fisheries 7.6%; Mining and quarries 11.8% and Industry 1.3%.

Producer prices, at the gate, soared to an annual 11.2% with different variations.

Agriculture, Livestock, Hunting and Forestry surged 37.3%; Mining 25%; Electricity, Gas and Water 11.4%. However there were also modest rises: Fisheries 2.8%; Manufacturing 0.6% and Construction 2.3%.