Chile's consumer prices up 0.3% in August
Rewrites throughout
SANTIAGO, Sept 6 (Reuters) - Consumer prices in Chile rose slightly more than expected in August, driven by hikes in food and non-alcoholic beverages and housing and basic services costs, statistics agency INE said on Friday.
In the world's largest copper producer, prices increased 0.3% in the month, above the 0.26% expected by economists polled by Reuters, with 12-month inflation hitting 4.7%, slightly up from the 4.6% reported in the previous month.
Six of the thirteen divisions that make up the consumer price index posted increases in the month, INE said in a statement.
Among the divisions that reported monthly price declines, insurance and financial services stood out, the agency added, saying it recorded a 2.1% price drop.
Earlier this week, Chile's central bank slightly lowered the country's growth estimate for 2024, with the economy now set to expand between 2.25% and 2.75%, while raising its projection for headline inflation this year to 4.5% from 4.2%.
The bank - which has an inflation target of 3% - last Tuesday unanimously voted to reduce its benchmark interest rate by 25 basis points to 5.5%, in line with expectations.
Reporting by Fabian Andres Cambero and Natalia Siniawski; editing by Gabriel Araujo
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