December 6, 2019 / 11:34 AM / 2 months ago

Chile consumer prices barely budge in November amid unrest

FILE PHOTO: People shop in a store inside of a mall at Vina del Mar, Chile July 14, 2019. REUTERS/Rodrigo Garrido

SANTIAGO (Reuters) - Chilean consumer prices rose 0.1% in November, the government’s statistics agency said on Friday, as annual inflation rose closer to its target.

Annual inflation hit 2.7%, still towards the lower end of the bank’s 2% to 4% range though creeping closer to its 3% target.

Unrest last month sent Chile’s peso spiraling to an historic low against the dollar. The most violent, widespread protests to hit the country since its return to democracy in 1990 have left at least 26 dead. Statistics agency INE did not mention the protests in a statement accompanying the data release.

The central bank this week said a recently announced $5.5 billion fiscal stimulus plan and the depreciating peso could help push long-lagging inflation upwards in coming months. The bank expects inflation to hit 3.4% in 2019.

Reporting by Dave Sherwood

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