SANTIAGO: Chile's consumer prices are expected to have risen in September by as much as they had in all the preceding months of 2012 combined, as a five-day national independence holiday pushed food, transport and hotel prices higher, a Reuters poll showed Wednesday.
The CPI is seen rising 0.6 percent in September, according to the median estimate of 12 analysts and economists polled by Reuters. That would be its biggest monthly gain since December.
"As is tradition, September's CPI is high. This year, in addition to the barbecue menu, we have hikes in air and land transportation prices and hotel fees," said Hernan Frigolett, head of ASERTA consultancy in Santiago. "Rising fuel prices also contributed."
Chile, the world's top copper producer, imports nearly all the fuel it consumes.
The central bank is seen holding its key interest rate at 5.0 percent at its monetary policy meeting on Oct. 18 and again in three and six months, the bank's fortnightly poll of traders showed last month.
Consumer prices in Chile rose in August, the first monthly increase since April, stoked by higher costs of foods, beverages, rent, utilities and fuel, government statistics agency INE said last month.
CPI increased 0.2 percent in August, while inflation in the 12 months to August was 2.6 percent, just below the central bank's 3 percent policy target.
A small, export-dependent economy, Chile has been bracing for a slowdown because of ebbing global demand, especially from China, its top trade partner and a big metals consumer.
Earlier on Wednesday, the central bank highlighted that the expected domestic economic slowdown had thus far been softer than anticipated.
Chile's economy is seen slowing in 2013 on waning external demand, despite its resilience so far in the face of both the euro zone debt crisis and China's deceleration.
The national statistics agency will publish the September CPI data on Saturday, Oct. 6 at 8 a.m. local time (11 AM GMT).
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