Central Bank of Chile projects GDP could fall to 7.5%

The Central Bank of Chile projects that Chile’s GDP will fall between 5.5 and 7.5% this year, with a significant decrease in the second quarter, as inflationary pressures dramatically reduced. The agency predicted that inflation will reach 2.0% this year, from the previous calculation of 3.0%. Meanwhile, the price of copper could average this year $2.50 per pound, compared to $2.15 previously projected. On the other hand, domestic demand could fall 10.4%, with declines in investment of 16% and consumption by 4%.

Source: Reuters