Chileans pay more
(N.Z.P. A.-Reuter—Copyright) SANTIAGO, Nov. 13. The cost of living in Chile rose 87.6 per cent in October, the steepest monthly rise in recorded history, the National Statistics Institute reports. This was a direct result of the decision by the country’s new military junta to raise the prices of many essential goods and services by between 200 and 600 per cent, as a first step to correct “economic distortions” perpetrated by the ousted Leftwing Government of President Salvador Allende. Dr Allende’s Popular Unity coalition deliberately kept prices of foodstuffs and other essentials far below freemarket levels in an effort to boost consumption by the poorly-paid sectors of the community. The junta’s measures raised the average price of foodstuffs by 82.3 per cent; housing by 54.5 per cent; clothing by 70.6 per cent; and goods and services by 154.2 per cent. This gave an all-round rise of 87.6 per cent in October, and brought the increase for the first 10 months of 1973 to 449.2 per cent.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19731115.2.83
Bibliographic details
Press, Volume CXIII, Issue 33383, 15 November 1973, Page 13
Word Count
168Chileans pay more Press, Volume CXIII, Issue 33383, 15 November 1973, Page 13
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in