The National Institute of Statistics (INE) today reported a CPI monthly increase of 0.1% for May, below market expectations, and accumulated a twelve-month variation of 8.7%. This last figure compares favorably with the 9.9% annual rate recorded last April, and reaffirms the downward path inflation has shown since its peak in August 2022 (14, 1%), as highlighted by Finance Minister Mario Marcel.
“This is very important for families, not only because of the global numbers, but also because of what is happening in the CPI for food, which has fallen: the basic food basket has fallen by 0.5%, the same as in the previous month. With this, it is clear that the economy is on a decisive downward path in terms of inflation. This is positive and the rest of the year It helps to confirm the positive expectations. The chance of reaching inflation in August is halved. It was last year and we will be below 5% at the end of 2022, which is reaffirmed,” the authority said at a press conference held in La Moneda, after participating in a meeting with President Gabriel Boric with the new director. . Sofafa.
Asked specifically about the evolution of the prices of certain products, Marcel pointed out that in the case of eggs, the rise recorded in recent months is related to a specific situation related to the phenomenon known as “avian flu”. He postulated that it was “a matter of time” that the fall in international grain prices would be reflected in the value of all commodities associated with the chain, such as flour and bread. “We’re always going to be spread around that bottom line, but the direction we’re moving is very clear to me,” he said.
Sofa crowd
Early in the morning, in La Moneda Palace, with the Finance Minister President Gabriel Boric, with the new Sofofa board of directors, its president Rosario Navarro and its vice president Gonzalo said.
“It was a very warm meeting, but above all we talked about all the things we need to work on, where we have opportunities to collaborate and create positive results for the country,” Marcel said.
