In Chile, even beloved hot dogs feel the economic squeeze

SANTIAGO, Chile -- It is lunchtime in downtown Santiago, and dozens of businesses around the Plaza de Armas are serving up one of Chile’s most democratic specialties: the “completo.”For decades, the country’s version of the hot dog has been one of the most affordable foods enjoyed across social classes. But as the cost of living rises and the economy struggles, even the humble snack is feeling the impact."Not long ago, I used to pay 2,500 pesos ($2.60) for a completo," said Antonia Bravo, a 21-year-old student. “Now, they cost 3,500 or 4,000 pesos ($3.60 or $4.10).”Official data released this month confirmed that Chile is on the brink of recession after two consecutive quarters of economic contraction. Unemployment rose to 9.5% — the highest level in five years — while annual inflation accelerated to 4.1% in the past 12 months as food and transportation prices increased.The weak outlook prompted Chile's Central Bank to cut its 2026 growth forecast — from the previously projected 1%–1.75% range to 0.25%–0.75%.“We cannot rule out the possibility that the current weakness may prove more persistent than anticipated,” Central Bank President Rosanna Costa warned at a news conference last...