The Effects Of The Covid 19 Pandemic On The Compilation Of Consumer Price Indices
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The Effects Of The Covid 19 Pandemic On The Compilation Of Consumer Price Indices
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Author : NU. CEPAL.
language : en
Publisher:
Release Date :
The Effects Of The Covid 19 Pandemic On The Compilation Of Consumer Price Indices written by NU. CEPAL. and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
This article belongs to the first issue of ECLAC Statistical Briefings, bimonthly publication on statistical topics, prepared by the Statistics Division of the Economic Commission for Latin America and the Caribbean (ECLAC).
The Availability Methodological Soundness And Scope Of Consumer Price Statistics In 2020
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Author : Vanda Guerreiro
language : en
Publisher: International Monetary Fund
Release Date : 2022-03-18
The Availability Methodological Soundness And Scope Of Consumer Price Statistics In 2020 written by Vanda Guerreiro and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-03-18 with Business & Economics categories.
This paper analyzes the availability, methodological soundness, and scope of Consumer Price statistics in IMF member and non-member countries in 2020. Consumer price statistics are instrumental in the development of monetary policy and in monitoring economic developments. They also often have administrative uses such as in determine wage increase or seting pension payments. This analysis examines the appropriateness of the current set of global consumer price statistics for current policy development and highlights regions where further development may be required. The analysis is based on the results of a new annual survey of CPI compilation practices in 207 economies as of the end of 2020. The survey was completed by statistical authorities between March 2021 and June 2021. In cases of non-response, IMF staff estimates were used. IMF Staff estimates were based on information taken from the IMF’s Dissemination Standards Bulletin Board (DSBB) and country websites to provide the status of consumer price index compilation practices. These data summarize the following key aspects; i) Production, publication and scope of the Consumer Price Index Program, ii) Data sources, iii) CPI compilation methods and iv) Concepts and classifications.
Measuring U S Core Inflation The Stress Test Of Covid 19
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Author : Laurence M. Ball
language : en
Publisher: International Monetary Fund
Release Date : 2021-12-17
Measuring U S Core Inflation The Stress Test Of Covid 19 written by Laurence M. Ball and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-12-17 with Business & Economics categories.
Large price changes in industries affected by the COVID-19 pandemic have caused erratic fluctuations in the U.S. headline inflation rate. This paper compares alternative approaches to filtering out the transitory effects of these industry price changes and measuring the underlying or core level of inflation over 2020-2021. The Federal Reserve’s preferred measure of core, the inflation rate excluding food and energy prices (XFE), has performed poorly: over most of 2020-21, it is almost as volatile as headline inflation. Measures of core that exclude a fixed set of additional industries, such as the Atlanta Fed’s sticky-price inflation rate, have been less volatile, but the least volatile have been measures that filter out large price changes in any industry, such as the Cleveland Fed’s median inflation rate and the Dallas Fed’s trimmed mean inflation rate. These core measures have followed smooth paths, drifting down when the economy was weak in 2020 and then rising as the economy has rebounded. Overall, we find that the case for the Federal Reserve to move away from the traditional XFE measure of core has strengthened during 2020-21.
Modernizing The Consumer Price Index For The 21st Century
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Author : National Academies of Sciences, Engineering, and Medicine
language : en
Publisher:
Release Date : 2022
Modernizing The Consumer Price Index For The 21st Century written by National Academies of Sciences, Engineering, and Medicine and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with Business & Economics categories.
The Consumer Price Index (CPI), produced by the Bureau of Labor Statistics (BLS), is the most widely used measure of inflation in the U.S. It is used to determine cost-of-living allowances and, among many other important private- and public-sector applications, influences monetary policy. The CPI has traditionally relied on field-generated data, such as prices observed in person at grocery stores or retailers. However, as these data have become more challenging and expensive to collect in a way that reflects an increasingly dynamic marketplace, statistical agencies and researchers have begun turning to opportunities created by the vast digital sources of consumer price data that have emerged. The enormous economic disruption of the COVID-19 pandemic, including major shifts in consumers' shopping patterns, presents a perfect case study for the need to rapidly employ new data sources for the CPI. Modernizing the Consumer Price Index presents guidance to BLS as the agency embarks on a strategy of accelerating and enhancing the use of scanner, web-scraped, and digital data directly from retailers in compiling the CPI. The report also recommends strategies for BLS to more accurately estimate the composition of households' expenditures - or market basket shares - by updating this information more frequently and using innovative survey techniques and alternative data sources where possible. The report provides targeted guidance for integrating new data sources to improve the CPI's estimation of changes in the prices of housing and medical care, two consumer expenditure categories that are traditionally difficult to measure. Because of the urgency of issues related to income and wealth inequality, the report also recommends that BLS identify data sources that would allow it to estimate price indexes defined by income quintile or decile.
Covid 19 And The Cpi Is Inflation Underestimated
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Author : Mr.Marshall B Reinsdorf
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2020-11-05
Covid 19 And The Cpi Is Inflation Underestimated written by Mr.Marshall B Reinsdorf and has been published by INTERNATIONAL MONETARY FUND this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-11-05 with Business & Economics categories.
COVID-19 changed consumers’ spending patterns, making the CPI weights suddenly obsolete. In most regions, adjusting the CPI weights to account for the changes in spending patterns increases the estimate of inflation over the early months of the pandemic. Under-weighting of rising food prices and over-weighting of falling transport prices are the main causes of the underestimation of inflation. Updated CPI weights should be developed as soon as is feasible, but flux in spending patterns during the pandemic complicates the development as quickly as 2021 of weights that represent post-pandemic spending patterns.
Inflation With Covid Consumption Baskets
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Author : Alberto Cavallo
language : en
Publisher:
Release Date : 2020
Inflation With Covid Consumption Baskets written by Alberto Cavallo and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.
The Covid-19 Pandemic has led to changes in consumer expenditure patterns that can introduce significant bias in the measurement of inflation. I use data collected from credit and debit transactions in the US to update the official basket weights and estimate the impact on the Consumer Price Index (CPI). I find that the Covid inflation rate is higher than the official CPI in the US, for both headline and core indices. I also find similar results with Covid baskets in 10 out of 16 additional countries. The difference is significant and growing over time, as social-distancing rules and behaviors are making consumers spend relatively more on food and other categories with rising inflation, and relatively less on transportation and other categories experiencing significant deflation.
Technical Supplement For The March 2021 Consumer Price Index
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Author :
language : en
Publisher:
Release Date : 2021
Technical Supplement For The March 2021 Consumer Price Index written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with Business failures categories.
A summary of methodological treatments as applied to the March 2021 Consumer Price Index (CPI) in response to the effects of the COVID-19 pandemic on price collection, price availability, and business closure.
The Consumer Price Index And Covid 19
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Author :
language : en
Publisher:
Release Date : 2021
The Consumer Price Index And Covid 19 written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with COVID-19 (Disease) categories.
A year into the pandemic, this article summarizes the impacts of COVID-19 on consumer inflation and highlights the important consumption factors that have shifted in the lives of Canadians.
Technical Supplement For The October 2020 Consumer Price Index
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Author :
language : en
Publisher:
Release Date : 2020
Technical Supplement For The October 2020 Consumer Price Index written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with Business failures categories.
A summary of methodological treatments as applied to the October 2020 Consumer Price Index (CPI) in response to the effects of the COVID-19 pandemic on price collection, price availability, and business closure.
Technical Supplement For April 2020 Consumer Price Index
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Author :
language : en
Publisher:
Release Date : 2020
Technical Supplement For April 2020 Consumer Price Index written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with Consumer price indexes categories.
"The COVID-19 outbreak, declared a pandemic on March 11, has caused federal, provincial/territorial and municipal governments across Canada to take measures to limit its spread and reduce its impact. By April, all provinces and territories had declared a state of public health emergency and measures were enacted across the country to restrict the movement of people, order the temporary closure of businesses and introduce payment deferral programs to reduce the financial impact on consumers. The collection and compilation of the April 2020 Consumer Price Index (CPI) were impacted by these measures as in-person field collection was conducted remotely, and imputation strategies were required to address an increased number of temporary business closures and out-of-stock products. These strategies were implemented according to international guidelines, and following consultation with other national statistical organizations"--Background, page 3.