SEIDO High Frequency CPI - August 16th 2023
SEIDO High Frequency CPI: Inflation was 1.8% WoW
Weekly inflation moderated but remained elevated. Consumer prices grew 1.8% WoW, lower than in the previous week (2.3% WoW -revised-). The monthly printing was 7.0% MoM, above the previous value (6.7% MoM). The interannual rate was 115.3% YoY, higher than the last figure (114.5% WoW -revised-).
| Main figures | Previous week (published) | Previous (revised) | Current week | Monthly | Annual |
|---|---|---|---|---|---|
| Headline inflation | 2.1% WoW | 2.3% | 1.8% | 7.0% MoM | 115.3% YoY |
| Core inflation | 2.2% WoW | 2.2% | 1.8% | 7.3% MoM | 111.5% YoY |
| Dollarized core | 2.5% WoW | 2.5% | 2.4% | 7.8% MoM | 125.9% YoY |
| Non-dollarized core | 1.8% WoW | 1.9% | 0.3% | 4.8% MoM | 113.8% YoY |
| Food inflation | 2.7% WoW | 2.3% | 1.9% | 7.0% MoM | 126.9% YoY |
Core inflation, seasonal items and regulated prices cooled down. Weekly core inflation was 1.8% WoW, below the previous figure (2.2% WoW) while its monthly printing was 7.3% MoM, higher than the last week (6.6% WoW). In addition, prices of seasonal items grew 0.4% WoW, below the previous value (1.1% WoW), and the monthly rate was 6.2% MoM, lower than the previous figure (7.6% MoM). Lastly, regulated prices increased 3.5% WoW, slightly below the last value (4.2% WoW), while their monthly printing was 6.7% MoM, above the last figure (6.0% MoM).
Prices of non-dollarized items decreased and dollarized items held steady. The weekly printing for non-dollarized items inflation was 0.3% WoW, above the previous 1.9% WoW -revised-, while the monthly printing was 4.8% MoM, similar to the last value. Dollarized items inflation was 2.4% WoW (vs previous 2.5% WoW), and the monthly figure was 7.8% MoM, far above than the previous figure (6.7% WoW).
Food and Beverages prices slightly moderated. Our monitoring of Food & Beverages shows a weekly variation of 1.9% WoW, below the previous figure (2.3% WoW). In addition, the monthly figure was 7.0% MoM, higher than last week´s figure (6.4% WoW).
The distribution of price changes continued changing. The fraction of our monitored prices increasing 4% or more per month was of 34%, a decrease from the previous 38%. Moreover, a further 23% of prices are growing between 2% and 4%, above the last 20%. Lastly, 34% of our monitored prices are rising less than 2%, higher than the previous 31%.
