Chile's jobless rate dropped unexpectedly in the three months through June from the previous period.

The jobless rate dropped to 8.5% in the three months ended in June from 8.8% in the three months ended in May, a report by the National Institute of Statistics showed on Friday. Economists had expected a rate of 8.9%.

Chile's annual inflation rate eased in June. The consumer price inflation eased to 1.2% from 1.5% in the previous month. The central bank had hiked its benchmark lending rate for the second straight month, with the country's economy rebounding at a faster than expected pace. The bank raised its key rate by 50 basis points to 1.50% on mid-July.