Latin America and the Caribbean (LAC) were among the regions most affected by the Coronavirus disease 2019 (COVID-19) pandemic in 2020 - despite being home to only 8.5 percent of the world's population, over 47 million people were infected by the virus by the end of November 2021, representing almost 18 percent of global cases, and the socioeconomic and human capital effects will be felt for many years to come. While in 2021 the region experimented an important economic recovery, with mobility almost fully restored to pre-pandemic levels and a remarkable progress in vaccination campaigns, positive spillovers on households' welfare have proved elusive in some countries and for some segments of the population. In an effort to continue monitoring how the COVID-19 pandemic has affected the livelihoods of households in the region, the World Bank and the United Nations Development Program (UNDP) joined forces to implement a second phase of high-frequency phone surveys (HFPS) in over 20 LAC countries in 2021. A first wave (wave 1) was collected between May and July, with a second (wave 2) following between October and December 2021 to January 2022 for Peru. The HFPS phase II adds 11 countries to those originally included in phase one. In wave 2, a representative sample of minorities was obtained in seven countries.