Unexpected June price rises in Chile

Consumer prices in Chile rose 0.9% in June, representing their biggest monthly rise since September 2005. Food and housing costs were largely responsible for the shock.

The Central Bank of Chile is now expected to raise interest rates by a quarter of a percentage point to 5.25% at its next meeting on August 9

The overnight interest rate was left at 5% for the fifth consecutive month in June. The central bank at the time indicated that further rises may be necessary later in the year.

The

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