SANTIAGO: Chile's consumer price index likely rose 0.2 percent in February, picking up slightly from January, driven by transport, food and clothing prices, a reading that would reinforce expectations the bank will hold its key interest rate steady next week.
The median forecast of 12 analysts and economists surveyed by Reuters comes after the index rose 0.1 percent in January, slightly below market expectations.
Investors are betting the central bank will hold its key rate steady for a second consecutive month at 5.0 percent at its March 15 rate-setting meeting, following a surprise January cut, as the economy continues to grow, albeit at a slower rate than last year.
Chile's economy grew 0.3 percent in January from December, slowing its pace from the prior month, and rose 5.5 percent year-on-year in January in the world's top copper producer, the central bank said on Monday.
Recent economic data have pointed to still strong domestic demand, a tight labor market and firm economic growth, prompting the central bank and Finance Minister to say the slowdown in Chile's export-dependent economy has been less severe than feared.
Inflation ended 2011 at 4.4 percent, above the central bank's tolerance ceiling of 4.0 percent, although the monetary authority has forecast consumer prices to rise a lower 2.7 percent this year.
The national statistics agency will publish consumer price index data for February on March 8 at 8 a.m.
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