Forex Analysis by Michael Ashton covering: US Dollar Index. Read Michael Ashton's latest article on Investing.com
It was established in 1967 by Chile as a non-circulating currency – I will get to that in a minute – and has survived a period of hyperinflation and a rebasing of the circulating Chilean currency from Escudos to Chilean Pesos in 1975. That is an amazing testimony.
So the NSA CPI today at 314.54 means that if the consumption basket cost $100 in 1983, today the same basket would cost $314.54. Except that if we had a UF for theI noted that the Chilean UF is a non-circulating currency. Then what good is it if you can’t actually buy goods and services with it? There are many salutatory effects to this. Suddenly, the need to get ahead of wage and price increases and negotiate larger increases to protect against inflation vanishes – and, with it, the feedback loop where higher wages induce higher prices, which in turn induce higher wages. We do not have anything like this in the United States at this point. We have CPI, and companies do negotiate contracts on the basis of CPI.
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