SEIDO High Frequency CPI - August 23th 2023
SEIDO High Frequency CPI: Inflation was 5.8% WoW
Weekly inflation rose sharply. Consumer prices grew 5.8% WoW, higher than in the previous week (2.2% WoW -revised-). The monthly printing was 8.7% MoM, above the previous value (7.2% MoM). The interannual rate was 127.7% YoY, higher than the last figure (116.6% WoW -revised-).
| Main figures | Previous week (published) | Previous (revised) | Current week | Monthly | Annual |
|---|---|---|---|---|---|
| Headline inflation | 1.8% WoW | 2.2% | 5.8% | 8.7% MoM | 127.7% YoY |
| Core inflation | 1.8% WoW | 1.8% | 6.6% | 9.1% MoM | 125.0% YoY |
| Dollarized core | 2.4% WoW | 2.5% | 7.6% | 10.2% MoM | 143.2% YoY |
| Non-dollarized core | 0.3% WoW | 0.3% | 4.4% | 6.0% MoM | 121.5% YoY |
| Food inflation | 1.9% WoW | 1.9% | 6.0% | 8.1% MoM | 138.5% YoY |
Core inflation and seasonal items went up while regulated prices cooled down. Weekly core inflation was 6.6% WoW, far above the previous figure (1.8% WoW) while its monthly printing was 9.1% MoM, higher than the last week (7.3% MoM). In addition, prices of seasonal items grew 7.5% WoW, above the previous value (2.1% WoW -revised-), and the monthly rate was 8.3% MoM, lower than the previous figure (7.1% MoM -revised-). Lastly, regulated prices increased 0.4% WoW, below the last value (3.5% WoW), while their monthly printing was 7.7% MoM, above the last figure (6.8% MoM).
Prices of non-dollarized items and dollarized items increased. The weekly printing for non-dollarized items inflation was 4.4% WoW, above the previous 0.3% WoW, while the monthly printing was 6.0% MoM, (vs previous 5.1% WoW). Dollarized items inflation was 7.6% WoW (vs previous 2.5% WoW -revised-), and the monthly figure was 10.2% MoM, far above the previous figure (7.9% WoW).
Food and Beverages prices sharply went up. Our monitoring of Food & Beverages shows a weekly variation of 6.0% WoW, far above the previous figure (1.9% WoW). In addition, the monthly figure was 8.1% MoM, higher than last week´s figure (7.0% WoW).
The distribution of price changes continued changing. The fraction of our monitored prices increasing 4% or more per month was of 89%. Moreover, 63% of prices are growing 10% or more per month, the highest figure since September 2019. Lastly, just 8% of our monitored prices are rising less than 2%.
