Annual inflation in Chile accelerated to 1.9% in October, from 1.5% in September, when it reached the lowest level since May 2013, the country’s statistics office said on Wednesday.

However, the Chilean inflation is still below the bottom of the country’s central bank target, which ranges from 2% to 4%.

The rise in the annual inflation rate in October was primarily due to the increase in prices of housing, basic services, food and non-alcoholic beverages, entertainment and culture.

On a monthly basis, consumer prices in Chile rose by 0.6% in October when compared to September – more than the 0.2% increase forecast by market analysts.

The core inflation in Chile, which excludes food and energy prices, was at 1.9% in October from a year before and at 0.3% in a monthly basis.

The material has been provided by InstaForex Company –