Dec. 20 (Bloomberg) -- Chile’s central bank cut its inflation estimate for next year on forecasts that economic growth will slow, while the price of copper, the country’s leading export, declines.
Consumer prices will rise 2.7 percent next year, while gross domestic product expands between 3.75 percent and 4.75 percent, the central bank said today in its quarterly monetary policy report. Three months earlier, the bank forecast growth of 4.25 percent to 5.25 percent and inflation of 2.9 percent.
The world’s leading copper producer will expand 6.2 percent this year after growing 5.2 percent in 2010, the bank said. Inflation will be 3.9 percent this year after quickening to 3.9 percent in November, it said.
Copper prices will average $4.01 per pound this year and $3.50 per pound in 2012, the bank said.
--Editor: Philip Sanders
To contact the reporter on this story: Randall Woods in Santiago at email@example.com.
To contact the editor responsible for this story: Joshua Goodman at firstname.lastname@example.org.