Chile: Minor effects on inflation due to Tax Reform

Summary

We estimate Tax Reform will have a total impact on inflation at around 0.9 pp to 2016. However, we expect that market has already internalized much of the impact on asset prices from April, at the beggining of discussion in Congress. All in all, we revised our inflation forecast to 2014 from 3.6% to 3,7% YoY and mantained our estimation for 2015 at 2,3% YoY.

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