cpi w / o volatiles excl. foods ( * ) ( cumulative change since january 2020, percentage points ) demand supply goods cpi w / o volatiles excl. foods i iii ii - 2 sep. 22 jul. 22 may. 22 mar. 22 jan. 22 nov. 21 sep. 21 jul. 21 may. 21 mar. 21 jan. 21 nov. 20 sep. 20 jul. 20 may. 20 mar. 20 jan. 20 - 4 ( * ) for methodological detail, see box i. 1 in december 2022 mp report. black line represents cumulative evolution from march 2020 to october 2022. shaded areas denote the following periods : ( i ) march – december 2020, ( ii ) january – december 2021, and ( iii ) january – october 2022. source : carlomagno et al. ( 2022 ) based on national statistics institute ( ine ), internal revenue service ( sii ), and central bank of chile. figure 3 inflation expectations of survey respondents ( annual change, percent ) two years ahead ( 1 ) one year ahead ( 1 ) financial traders ( fts ) economists ( ees ) businesses ( edep ) financial traders ( fts ) economists ( ees ) businesses ( edep ) ( 1 ) shows median responses. ( 2 ) fts considers the survey of first half of each month up to january 2018. from 2018 onwards, it uses latest survey publish in the month, including the one preceding the december 2022 mp meeting. in those months with no survey published, the lastest one available is used. source : central bank of chile. figure 4 cost pressures a ) transportation costs and bottlenecks ( standard deviations ) b ) imce : cost expectations ( 1 ) ( diffusion index ) manufacturing freight / amount imported supply chain pressure index construction trade - 1 - 2 ( 1 ) standard deviations from average. ( 2 ) global supply chain pressure index. sources : central bank of chile based on microdata of chile's national customs service and new york federal reserve. ( 1 ) value above ( below ) 50 indicates expected expansion ( contraction ). ( 2 ) dashed horizontal sines show historical averages between january 2004 and november 2022. source : icare / universidad adolfo ibanez. figure 5 activity indicators ( index, 2019q3 = 100, deseasonalized series ) gdp non - mining gdp source : central bank of chile. figure 6 a ) investment ( index,

the 2019 financial inclusion survey showed that 71 % or an estimated 51 million remain unreached by the formal financial system. with these realities and other significant developments transforming the country ’ s financial inclusion landscape, our vision and strategy must evolve to reflect new exigencies, demands, and opportunities. the nsfi 2022 – 2028 signifies our greater collective commitment and aspiration for a more financially included and empowered citizenry. it takes a deliberate stance to address the significant disparities in financial inclusion levels across demographics and segments. the nsfi 2022 – 2028 emphasizes financial inclusion to enhance consumer welfare and features financial resilience as a centerpiece of our renewed vision. it outlines a strategic governance framework, through which a broader set of stakeholders can be tapped as a driving force of the 1 / 2 bis central bankers'speeches strategy ’ s implementation and, thus, truly foster a whole - of - nation approach. by articulating concrete desired outcomes, priorities, performance indicators, and targets, this landmark document will not only serve as a financial inclusion blueprint for the next six years, but also as powerful tool for communicating our bold commitment to the financial inclusion agenda. at this point, i would like to thank and commend my fellow fisc members and our stakeholders for your recognition of financial inclusion as an essential component of our country ’ s development master plan. your contributions have truly been invaluable to the development of the nsfi 2022 – 2028. the effective implementation of the nsfi 2022 – 2028 will, of course, rely on everyone ’ s unwavering dedication and zeal. we must work to ensure all filipinos can thrive and prosper in an ever - evolving landscape. this is also why we chose the social media hashtag # kabilangako, to send a clear message that no one will be left behind. finally, today ’ s launch merely heralds the continuation of our financial inclusion journey, one that is to be pursued with even greater purpose : to open opportunities for every filipino to become both the beneficiaries and foundations of growth and prosperity. we look forward to being with you on this journey. thank you again for joining us on this momentous occasion as we unveil the nsfi 2022 – 2028. maraming salamat at mabuhay! # 2 / 2 bis central bankers'speeches