Several countries in the region released inflation data for August. Abating price pressures keep on being the norm in Brazil, Colombia and Mexico, even more so than market expectations. Thus, we remark the case of Chile, where the latest inflation data sends the y/y rate into negative territory for the first time since 2004. Monetary policy meetings in Chile and Peru end without changes on their benchmark rates (0.5% and 1.25%). These two countries also published favourable data on the activity front (Imacec in Chile and consumer confidence in Peru).