Inflation as measured by IPC-S rises 0.46% in first week of January
The Weekly Consumer Price Index (IPC-S) rose 0.46% in the first week of January 2023 and it is up 4.26% in the last 12 months. The recent evolution of the 12-month rate is shown in the graph in the press release.
In the latest results, six of the index’s eight component spending classes recorded increases in their rates of variation. The biggest contribution to IPC-S came from the Education, Publications and Recreation group, whose rate of variation went from -0.07% in the fourth week of December 2022 to 0.80% in the first week of January 2023. In this spending class, the Formal Courses item went up 1.73%, compared to 0.00% in the previous edition of IPC-S.
The following groups also saw increases in their rates of variation: Health and Personal Care (0.55% to 0.67%), Transport (-0.07% to 0.04%), Food (0.73% to 0.78%), Miscellaneous Expenses (0.03% to 0.08%) and Apparel (0.87% to 0.91%). In these spending classes, the following items stood out: Hygiene and Personal Care Items (0.32% to 0.64%), Gasoline (-1.21% to -0.79%), Fruit (-1.04% to 0.59%), Bike Repairs (0.19% to 0.71%) and Men’s Clothing (1.21% to 1.71%).
On the other hand, there were reductions in variation rates in the following groups: Housing (0.31% to 0.19%) and Communication (0.74% to 0.71%). In these spending classes, the following items stood out: Residential Electricity Charges (0.43% to -0.13%) and Pay TV Charges (1.40% to 1.16%).
The next edition of IPC-S, based on data collected up to January 15, 2023, will be released on January 16, 2023.
The full study is available here.