MercoPress. South Atlantic News Agency

Lowest January inflation in Chile since 1943: minus 0.8%

Consumer inflation in Chile during January dropped 0.8%, the lowest since the same month in 1943, accumulating 6.3% in the last twelve months, according to the latest report from the country's Statistics Institute, INE.

This is the third consecutive month with negative consumer prices index, November was -0.1% and December, -1.2%. Clothing and footwear plus transport were two of the most contracting items, -10.5% and -1.7% respectively. Gasoline, diesel and air fares decreased 11.5%: 17.8% and 8.7%, with a -0.483 overall incidence in the consumer prices index. Meanwhile producer prices during November recorded a -4.6% contraction with an accumulated twelve-month variance of 0.2%. The January prices index is "very good news" said Chilean Interior minister Edmundo Perez Yoma, particularly for "people having to pay mortgages". He also underlined it was encouraging for parents who have to begin buying school utensils and uniforms for children returning to school next month.