Inflation Chile 2023
Average inflation: 7.7%
Current Inflation
Inflation is very high at 7.7%, far above the ECB target.
Peak and Trough
The highest inflation was in January at 12.3%. The lowest inflation was in December at 3.9%.
- Highest month
- January: 12.3%
- Lowest month
- December: 3.9%
- Difference
- 8.4 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food and non-alcoholic beverages with an average of 12.5%. The lowest price increase was in Communication with an average of -2.6%.
- Highest increase
- Food and non-alcoholic beverages: 12.5%
- Lowest increase
- Communication: -2.6%
Historical Context
Current inflation is 1.8% higher than the 5-year average of 5.9%.
- 5-year average
- 5.9%
- 10-year average
- 5.3%
- All-time high (2022)
- 11.6%
- All-time low (2018)
- 2.4%
Trend
Inflation shows an upward trend. Compared to 2022, inflation has risen by -3.9 percentage point.
- Change vs. previous year
- -3.9 percentage points
- Largest monthly swing
- December: -8.9 percentage points
ECB Target
Inflation is 5.7% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €107.70 next year at this inflation rate.
Multi-year trend
Monthly figures 2023
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2022 |
|---|---|---|
| January | 12.3% | +4.6 |
| February | 11.9% | +4.1 |
| March | 11.1% | +1.7 |
| April | 9.9% | -0.6 |
| May | 8.7% | -2.8 |
| June | 7.6% | -4.9 |
| July | 6.5% | -6.6 |
| August | 5.3% | -8.8 |
| September | 5.1% | -8.6 |
| October | 5.0% | -7.8 |
| November | 4.8% | -8.5 |
| December | 3.9% | -8.9 |
| Average | 7.7% |
Data source
Data from OECD. Last updated: 13/01/2026.