It has been a while since I reported on my Hyperinflated Arepa Index. In April I had one while in Caracas, but the variation in price was so small (see graph) that I did not think it was worth boring you with the small increase.
Then I went back last week, before the unmentionable parallel rate of exchange had soared, and as you can see in the graph above, the Hyperinflated Arepa Index seems to be a leading indicator of what the abominable website reports, as in one month, there was an increase of 53.3%. This is above what the parallel rate rose in the same period.
You be the judge…
The summary of the increases so far are then:
Nov. 17th. Bs 120
Dec. 7th. Bs. 156 Increase of 30% in three weeks
Jan. 21st. Bs. 178.6 increase of 14.7% in six weeks
April 15th. Bs. 187.5 increase of 5% in 11 weeks
May 15th. Bs 275 an increase of 53.9% in four weeks
Since it was almost precisely six months since my first delicious arepa for this experiment, we can quote the half a year inflation of 129.16%.
I could do a fit to the slope, but really, it is only five points, we dont not need such sophistication. .
I guess I will have to continue being a glutton and eat those delicious arepas in the name of data collection and science every time I go there. Will have to bike more too…