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The level worries reached by inflation in Brazil and Chile, two countries that until now had kept it under control.

Inflation in Brazil registered the highest variation in September for that month since 1994, while Chile saw the largest increase in retail prices since June 2008.

According to data from the Brazilian Institute of Geography and Statistics (IBGE), in that country an inflation of 1.16% was registered in September compared to August, which represented the greatest variation for this month since 1994. In interannual terms, the increase of prices was 10.25%, compared to 9.68% observed in August; and so far this year it amounts to 6.9%, reported the Europa Press agency, cited by DPA.

Of the nine groups of goods and services that IBGE analyzes, eight experienced price increases, led by Housing (2.56%), Transportation (1.82%) and Food and beverages (1.02%). Transportes accelerated its prices compared to August, when the variation was 1.46%, driven by the increase in fuels, which rose 2.43% in September. Currently, Brazil is one of the countries with the highest inflation rates in Latin America. Against this backdrop, the Brazilian Central Bank began a cycle of interest rate hikes in May for the first time in six years. For its part, Chile’s Consumer Price Index (CPI) registered an increase of 1.2% in September compared to the previous month, accumulating an increase of 4.4% so far this year and 5.3% % in the interannual comparison, according to the National Institute of Statistics (INE) of that country. In monthly terms, inflation in September is the highest since June 2008, while at the year-on-year level the rise in prices is the highest since November 2014. In the ninth month of the year, all the goods and services analyzed experienced a variation positive in its month-on-month comparison. Among the headings that registered the greatest increases were Food and non-alcoholic beverages (2.1%), Transportation (2.7%) and Housing and basic services (0.7%). In the year-on-year comparison, Transportation was the area that posted the highest growth, with an increase of 12.6%; followed by Miscellaneous goods and services (8.2%), Household equipment and maintenance (6.1%) and Food and non-alcoholic beverages (5.2%). With these data, the Chilean Central Bank will hold a new monetary policy meeting next week; in the previous one, the institution surprised with a rise in interest rates.

By Telam Agency

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