Chile inflation rises 0.4% in August, 4.8% over 12 months

Chile's consumer prices rose 0.4% in August, the government's statistics agency said on Wednesday, while rolling 12-month inflation hit 4.8%, above the central bank's target range of 2%-4%.

The increase in prices was led by a jump in housing and basic services costs, Chile's National Statistics Institute (INE) said, and restaurants and hotel price increases.

Last week, the central bank raised the interest rate from 0.75% to 1.5% on the back of higher than anticipated consumer prices.