Amid Fuel Price Volatility, Government Says Statistics Institute Will Update Transport Cost Calculation

As diesel prices rise and fall more sharply, Chile’s government says the National Statistics Institute is working to update the way transport costs are calculated.

Economy Undersecretary Karlfranz Koehler reported that the INE is updating and modernizing the Transport Cost Index, known as the ICT.

The government says the effort is intended to make the index more timely, representative and useful for the transport sector. The announcement comes as fuel-price volatility increases pressure on the calculation used to reflect transportation costs.