The National Statistics Institute (INE) reported that in November the Consumer Price Index (CPI) registered a monthly variation of 0.2%, accumulating an increase of 4.7% so far this year and 4.2% in the last 12 months. Although the increase was less than projected by the market, certain products experienced notable increases, with international air transport, food consumed outside the home, and bread standing out as those with the greatest impact.
International air transport
International air transport recorded a increase significant monthly increase of 25.3%, being the product with the greatest increase in November. This increase can be explained by the high demand for tickets to travel during the end-of-year festivities, combined with adjustments in operating costs in the airline sector. Although this increase accumulated only 0.5% so far this year, it marked a clear impact on the behavior of the CPI.
Food outside the home
He price of food purchased in restaurants, cafes and similar establishments also rose, with a monthly increase of 0.6%. This item has accumulated a notable increase of 7.2% so far in 2024, reflecting not only general inflation but also the higher costs of inputs and services faced by gastronomic businesses. This increase directly impacts the pockets of consumers who choose to eat away from home.
Bread, a staple that never stops rising
Another product that stood out in the report INE It was bread, with an increase of 1.3% in November and a cumulative 5.3% for the year. This increase is related to production costs and volatility in the prices of raw materials, such as wheat. Bread, being an essential food in the Chilean diet, shows how inflation affects basic necessities.
What explains the behavior of the CPI in November?
According to the report of INEthe home equipment and maintenance divisions (1.6%) and communication (0.8%) also had a significant impact on the CPI, due to products such as furniture and computers. However, some divisions showed declines, such as food and non-alcoholic beverages (-0.3%), where reductions in the prices of vegetables, legumes and tubers (-2.4%) stood out.
On the other hand, products such as gasoline and national air transport presented decreases in price significant in November, with drops of 2.3% and 14%, respectively. These reductions, although they help partially balance the increases in other items, did not completely offset the increases in key products.
