During the second quarter of 2018, Chilean GDP slowed by 0.14 p.p. year-over-year to 4.99%. This performance was mainly due to lower growth in external demand, following a slowdown in exports and an acceleration in imports. In the labour market, the unemployment rate increased by 0.27 p.p. from the previous quarter to 6.97%, while the year-over-year rate of employment creation slowed by 0.35 p.p. to 2.11%. Inflation stood at 2.16% after accelerating by 0.16 p.p. compared to 1Q18. The Chilean peso depreciated against the US dollar, to an average exchange rate of 620.94 CLP/USD in 2Q18.
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