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  • Primary sectors dragged Chilean growth lower in Q1, despite relatively resilient domestic demand.
  • Higher oil prices now threaten inflation, household incomes and the external accounts simultaneously.
  • Weak activity will likely keep BCCh cautious, despite elevated external uncertainty and inflation risks.

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Keywords for: 20 May 2026 LatAm Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence