In Chile, even beloved hot dogs feel the economic squeeze

In Santiago, Chile, even the beloved hot dogs known as "completos" are feeling the economic squeeze as the country grapples with a looming recession. Once a staple enjoyed by people of all social classes, the cost of a completo has risen from 2,500 pesos ($2.60) to 3,500 or 4,000 pesos ($3.60 or $4.10). As inflation soars to 4.1% in the past year, many Chileans are finding it harder to afford even basic snacks.

The Central Bank has even cut its growth forecast for 2026, from 1%–1.75% to 0.25%–0.75%, warning that the current economic weakness may continue longer than anticipated. Unemployment has risen to 9.5% and the monthly basic food basket now costs nearly $100, up 5% from a year earlier. Despite President Kast's efforts to boost investment and employment, the disconnect between wages and rising prices is leading to frustration among Chileans.