Latam Daily: Chile CPI and Peru Macro Expectations

Scotiabank's Latam Daily reports on Chile's April CPI of 1.3% m/m and the latest BCRP macroeconomic survey in Peru, which shows rising inflation and FX expectations.

Key Takeaways

• 1.Chile's April CPI (1.3% m/m) was driven by fuel prices but failed to fully capture indirect effects, signaling upside risks for May inflation.
• 2.Peru's macro expectations are adjusting to Middle Eastern conflict and local political uncertainty, with inflation and exchange rate forecasts rising.
• 3.Chilean headline inflation could reach 5% y/y by mid-year due to the lag in indexation for items like rent and insurance.

Table of Contents

• CHILE: FUEL PRICE INCREASES WERE NOT FULLY CAPTURED IN APRIL—STRONGER INCREASES IN TRANSPORTATION SERVICES ARE LIKELY IN MAY
• PERU: ECONOMIC EXPECTATIONS INTERNALIZE THE LOCAL AND INTERNATIONAL ENVIRONMENT, AS EXPECTED

Document Preview

Page 1 of 3

Subscribe for full accessStart Free Trial