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What do high-frequency expenditure network data reveal about spending and inflation during COVID‑19?

Author

Listed:
  • Kim Huynh
  • Helen Lao
  • Patrick Sabourin
  • Angelika Welte

Abstract

The official consumer price index (CPI) inflation measure, based on a fixed basket set before the COVID 19 pandemic, may not fully reflect what consumers are currently experiencing. We partnered with Statistics Canada to construct a more representative index for the pandemic with weights based on real-time transaction and survey data.

Suggested Citation

  • Kim Huynh & Helen Lao & Patrick Sabourin & Angelika Welte, 2020. "What do high-frequency expenditure network data reveal about spending and inflation during COVID‑19?," Staff Analytical Notes 2020-20, Bank of Canada.
    • Handle: RePEc:bca:bocsan:20-20
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    File URL: https://www.bankofcanada.ca/2020/09/staff-analytical-note-2020-20/
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    Citations

    RePEc Biblio mentions

    As found on the RePEc Biblio, the curated bibliography for Economics:
    1. > Economics of Welfare > Health Economics > Economics of Pandemics > Specific pandemics > Covid-19 > Economic policy > Money and monetary policy

    Citations

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    Cited by:

    1. Tatjana Dahlhaus & Angelika Welte, 2021. "Payment Habits During COVID-19: Evidence from High-Frequency Transaction Data," Staff Working Papers 21-43, Bank of Canada.
    2. Martin Kuncl & Austin McWhirter & Alexander Ueberfeldt, 2021. "The uneven economic consequences of COVID 19: A structural analysis," Staff Analytical Notes 2021-17, Bank of Canada.
    3. Kantur, Zeynep & Özcan, Gülserim, 2021. "What pandemic inflation tells: Old habits die hard," Economics Letters, Elsevier, vol. 204(C).
    4. Angelika Welte & Jozsef Molnar, 2021. "The market for acquiring card payments from small and medium-sized Canadian merchants," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 56(2), pages 87-97, April.

    More about this item

    Keywords

    Inflation and prices; Payment clearing and settlement systems;

    JEL classification:

    • D1 - Microeconomics - - Household Behavior
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E4 - Macroeconomics and Monetary Economics - - Money and Interest Rates
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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