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Spatial Dependence of Average Prices for Product Categories and Its Change over Time: Evidence from Daily Data

Author

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  • Venera Timiryanova

    (Institute of Economics, Finance and Business, Ufa University of Science and Technology, Ufa 450076, Russia)

  • Irina Lakman

    (Institute of Economics, Finance and Business, Ufa University of Science and Technology, Ufa 450076, Russia)

  • Vadim Prudnikov

    (Institute of Economics, Finance and Business, Ufa University of Science and Technology, Ufa 450076, Russia)

  • Dina Krasnoselskaya

    (Institute of Economics, Finance and Business, Ufa University of Science and Technology, Ufa 450076, Russia
    Institute of Business Ecosystems and Creative Industries, Ufa State Petroleum Technological University, Ufa 450064, Russia)

Abstract

The price of market products is the result of the interaction of supply and demand. However, within the same country, prices can vary significantly, especially during crisis periods. The purpose of this study is to identify patterns in the changing spatial dependence of the prices of certain product categories, namely pasta, potatoes, sugar, candies, poultry and butter. We used daily data from 1 January 2019, to 31 March 2022, and analyzed two important indicators: spatial variation and spatial autocorrelation of average daily prices. The analysis showed that spatial dependency changes over time and follows its own pattern for each product category. We recognized cyclic changes in spatial autocorrelation and noticed the effect of legislative restrictions on spatial correlations. It has been shown that the spatial variation of prices and spatial autocorrelation can change in different directions.

Suggested Citation

  • Venera Timiryanova & Irina Lakman & Vadim Prudnikov & Dina Krasnoselskaya, 2022. "Spatial Dependence of Average Prices for Product Categories and Its Change over Time: Evidence from Daily Data," Forecasting, MDPI, vol. 5(1), pages 1-25, December.
    • Handle: RePEc:gam:jforec:v:5:y:2022:i:1:p:4-126:d:1021836
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