Chile’s consumer prices stay unchanged in June, according to the National Statistics Institute, surprising expectations ahead of the release. The CPI records a 0.0% monthly change, while markets and analysts had forecast a decline—about 0.3%—often attributed in expectations to falling fuel costs and softer economic activity. Although the monthly inflation rate does not move, the annual measure increases: the 12-month inflation rate rises to 4.3% from 3.9%. Both outlets characterize the outcome as a surprise relative to forecasts, with the key difference being that the monthly reading comes in at flat rather than down. The available reporting focuses on the headline CPI figures for June, highlighting that the lack of month-to-month movement does not prevent the year-over-year inflation rate from climbing. The reports do not provide additional breakdowns of components or policy implications beyond the inflation numbers and the comparison with market expectations.