(RTTNews) - Tuesday, Chile’s National Statistics Institute announced that the consumer price index or CPI dropped 1% year-on-year in August, in contrast to the 0.3% growth in the previous month. This was the lowest level since April 2004. Economists were looking for a decline of 0.8%. The consumer price inflation was 9.3% a year ago.

On a monthly basis, the CPI decreased 0.4% in August, marking the same pace as in the previous month. Economists expected a decrease of 0.2%.

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