Chile’s Consumer Price Index Dropped in February

Chile’s Consumer Price Index deflated 0.2 percent in February, totaling 0.1 percent in the first two months of 2007 and 2.7 percent in the last twelve months, according to a release from the country’s National Statistics Institute.

The monthly index reported lower prices for transport (-2.7 percent), clothing (-0.4 percent) plus leisure and education (-0.1 percent). Increases were registered for housing (1.26 percent), others (0.6 percent), food (0.1 percent) and health services (0.1 percent).

The consumer price index which does not include the more volatile items of fresh fruit and vegetables and fuel, remained flat in February but accumulates 3.1 percent in the last twelve months.

Fruits and vegetables dropped 2.3 percent and 0.8 percent in the last twelve months. Fuel prices diminished 1.5 percent in February with an annual twelve months variation of -0.9 percent.

Meantime the Producers Prices Index in February 2007 deflated 3.2 percent and 4 percent in the first two months of the year. In the last twelve months the index advanced 7.3 percent. The cost of labor increased 4.8 percent in January and labor incomer per hour 5.8 percent in the last twelve months.