Chilean inflation figures for October lower than expected

Chile's National Statistics Institute (INE) released its monthly inflation figures on 7 November 2016. The figure for October was 0.2 percent, slightly below the expected 0.3 percent. Combined with the rest of 2016's figures, this amounts to an accumulated 2.9 percent inflation rate for 2016. The category of goods and services experiencing the sharpest price increase in October 2016 was Transport (1 percent increase) and Housing and Basic Services (0.3 per cent). Conversely, food and non-alcoholic drinks prices decreased by 0.4 percent (La Nación). Treasury Minister Rodri Valdés welcomed the news of slightly lower than expected inflation. Valdés explained this would help ongoing discussions about salary raises with public sector workers, given that the workers' demands and government's proposals were made under the expectation of 3.5 percent inflation by this point in the year (La Tercera).