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Measuring Inflation under Pandemic Conditions

Author

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  • Diewert W. Erwin

    (Department of EconomicsUniversity of British Columbia#997-1873 East Mall Vancouver, BC V6T 1Z1, Canada.)

  • Fox Kevin J.

    (School of Economics and CAER UNSW Sydney, NSW 2052, Australia)

Abstract

National statistical offices have faced unprecedented circumstances in the modern history of economic measurement. There were dramatically changing consumer expenditure patterns due to pandemic conditions, with lockdowns and fear of infection making many goods and services unavailable. We examine the implications of changing relative expenditures for the construction of Consumer Price Indexes, with special reference to the treatment of prices for unavailable products. We conclude that for many purposes, it would be useful for statistical agencies to establish a continuous consumer expenditure survey. We also examine various other practical pandemic induced CPI measurement problems.

Suggested Citation

  • Diewert W. Erwin & Fox Kevin J., 2022. "Measuring Inflation under Pandemic Conditions," Journal of Official Statistics, Sciendo, vol. 38(1), pages 255-285, March.
    • Handle: RePEc:vrs:offsta:v:38:y:2022:i:1:p:255-285:n:14
    DOI: 10.2478/jos-2022-0012
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    References listed on IDEAS

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