Inflation measurement with high frequency data

Kevin Fox, Peter Levell and Martin O'Connell

No 18539, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: The availability of large transaction level datasets, such as retail scanner data, provides a wealth of information on prices and quantities that national statistical institutes can use to produce more accurate, timely, measures of inflation. However, there is no universally agreed upon method for calculating price indexes with such high frequency data, reflecting a lack of systematic evidence on the performance of different approaches. We use a dataset that covers 178 product categories comprising all fast-moving consumer goods over 8 years to provide a systematic comparison of the leading bilateral and multilateral index number methods for computing month-to-month inflation.

JEL-codes: C43 E31 (search for similar items in EconPapers)
Date: 2023-10
References: Add references at CitEc
Citations:

Downloads: (external link)
https://cepr.org/publications/DP18539 (application/pdf)
CEPR Discussion Papers are free to download for our researchers, subscribers and members. If you fall into one of these categories but have trouble downloading our papers, please contact us at subscribers@cepr.org

Related works:
Working Paper: Inflation measurement with high frequency data (2023)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cpr:ceprdp:18539

Ordering information: This working paper can be ordered from
https://cepr.org/publications/DP18539
orders@cepr.org

Access Statistics for this paper

More papers in CEPR Discussion Papers from C.E.P.R. Discussion Papers Centre for Economic Policy Research, 33 Great Sutton Street, London EC1V 0DX.
Bibliographic data for series maintained by (repec@cepr.org).