SEIDO High Frequency CPI - August 2nd 2023
SEIDO High Frequency CPI: Inflation was 1.1% WoW
Weekly inflation moderated. Consumer prices grew 1.1% WoW, lower than in the previous week (1.5% WoW). The monthly printing was 6.8% MoM, similar to the previous value (6.8% MoM -revised-). The interannual rate was 112.8% YoY, lower than the last figure (114.2% WoW -revised-).
| Main figures | Previous week (published) | Previous (revised) | Current week | Monthly | Annual |
|---|---|---|---|---|---|
| Headline inflation | 1.5% WoW | 1.5% | 1.1% | 6.8% MoM | 112.8% YoY |
| Core inflation | 2.1% WoW | 2.1% | 1.3% | 6.5% MoM | 112.2% YoY |
| Dollarized core | 2.2% WoW | 2.2% | 1.7% | 6.5% MoM | 125.0% YoY |
| Non-dollarized core | 1.4% WoW | 1.4% | 0.8% | 5.6% MoM | 118.5% YoY |
| Food inflation | 2.7% WoW | 2.7% | 0.6% | 6.9% MoM | 124.4% YoY |
Core inflation cooled down, seasonal items went up and regulated prices held steady. Weekly core inflation was 1.3% WoW, below the previous figure (2.1% WoW) while its monthly printing was 6.5% MoM, lower than the previous figure (6.9% MoM -revised-). In addition, prices of seasonal items grew 1.0% WoW, above the previous value (0.6% WoW), and the monthly rate was 8.2% MoM, higher than the previous figure (7.9% MoM -revised-). Lastly, regulated prices increased 0.2% WoW, similar to the last value, while their monthly printing was 5.9% MoM, above the last figure (5.2% MoM).
Prices of non-dollarized items and dollarized items dropped. The weekly printing for non-dollarized items inflation was 0.8% WoW, below the previous 1.4% WoW, while the monthly printing was 5.6% MoM, lower than the previous value (6.9% WoW). Dollarized items inflation was 1.7% WoW (vs previous 2.2% WoW -revised-), and the monthly figure was 6.5% MoM, lower than the previous figure (6.6% WoW).
Food and Beverages prices moderated. Our monitoring of Food & Beverages shows a weekly variation of 0.6% WoW, far below the previous figure (2.7% WoW). In addition, the monthly figure was 6.9% MoM, lower than last week´s figure (7.3% WoW).
The distribution of price changes continued changing. The fraction of our monitored prices increasing 4% or more per month was of 29%, an increase from the previous 27%, and far below the August peak of 84%. Moreover, a further 24% of prices are growing between 2% and 4%, slightly above the last 23%. Lastly, 47% of our monitored prices are rising less than 2%, lower than the previous 50%.
