[SAMPLE] SEIDO High Frequency CPI: Inflation was 1% WoW

Weekly inflation remained relatively stable, though at high levels. Consumer prices increased 1% WoW (slightly lower than the previous 1.2% WoW -revised-), and its monthly printing was 3.5% MoM (down from previous 3.7% MoM -revised-). Furthermore, the interannual inflation rate was 56.9% YoY (down from previous 57.1% YoY -revised-).

Core inflation remained high, seasonal items cooled slightly. Weekly core inflation was 1% WoW (vs previous 1.1% WoW -revised-), and its monthly variation fell to 2.1% MoM (vs previous 2.7% MoM -revised-). Additionally, prices of seasonal items showed an increase of 1.6% WoW (vs previous 2.3% WoW -revised-), and its monthly variation was 8% MoM (vs previous 7.6% MoM -revised-). Lastly, regulated prices increased 0.2% WoW, and their monthly printing rose to 4.4% MoM (vs previous 3.7% MoM).

Prices of dollarized items accelerated, and non-dollarized items slowed down. The weekly printing for dollarized items inflation was 1.4% WoW (vs previous 1.2% WoW -revised-), whereas the monthly variation was of 1.7% MoM (vs previous 2% MoM -revised-). Likewise, non-dollarized items inflation fell moderately to 0.5% WoW (vs previous 0.6% WoW -revised-) and the monthly figure was of 4.4% MoM (vs previous 5.4% MoM -revised-).

Food and Beverages weekly prices rose at a rapid though stable pace. Our monitoring of Food & Beverages shows a weekly variation of 1.4% WoW, the same as the previous week, and its monthly variation fell to 4% MoM (vs previous 4.9% MoM -revised-).

The distribution of price changes keeps changing. The fraction of our monitored prices increasing 4% or more per month rose slightly to 26% (vs previous 24%). A further 17% of prices are increasing between 2-4% per month (vs previous 15%) and the fraction of prices increasing below 2% per month fell to 57% (vs previous 61%).