Figure 12 IPEC  IMCE  (diffusion index)  (diffusion index)  Trade Construction Manufacturing IMCE without mining  IPEC (1) 80 IPEC: inflation (2) IPEC: unemployment (3)  80  Political and economic uncertainty (Depuc) (4)  60 60  (index, 1 January 2012 = 100)  500 400 300  40  40  200  20  20  0  0 18  19  20  21  22  100 0 18  19  20  21  22  18  19  20  21  22  (1) A value above (below) 50 indicates optimism (pessimism). (2) Percent of respondents who believe that prices will increase "a lot" in the next 12 months. (3) A higher (lower) value indicates more (less) unemployment. (4) Moving 30-day average. As from December 2021, the index includes an update to the dictionary of words used for its construction, as a way of incorporating new elements that influence the local scenario. Sources: Gfk/Adimark, Icare/Universidad Adolfo Ibáñez, and Central Bank of Chile based on Becerra and Sagner (2020).
16  Figure 13 MPR Corridor (*) (promedio trimestral, porcentaje)  24.II  24.I  23.IV  23.III  23.II  22.IV  23.I  12.0 11.0 10.0 9.0 8.0 7.0 6.0 5.0 4.0 3.0 2.0 1.0 0.0  22.III  22.II  22.I  21.IV  21.II  21.I  21.III  Corredor Jun.22 FTS EES Mar.22 corridor MPR Forward MPR Jun.22 MP meeting  12.0 11.0 10.0 9.0 8.0 7.0 6.0 5.0 4.0 3.0 2.0 1.0 0.0  (*) The corridor is constructed following the methodology in boxes V.1 of March 2020 MP Report and V.3 of March 2022 MP Report. It includes the May Economic Expectations Survey (EES) and the June Financial Traders Survey (FTS) previous to the MP meeting, plus the average smoothed forward curve for the quarter ended on 1 June. This is calculated by extracting the implicit MPR considering the forward curve over the overnight swap curve of up to 2 years, discounting the fixed rates of each maturity to the simple accrual of the overnight index swap (OIS). For the current quarter, the surveys and the forward curve consider the average of daily effective data and are completed with the respective sources  Source: Central Bank of Chile.