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El Índice de Precios de Consumo Efectivo Medio (IPCEM): Enfoque Académico para el Análisis de la Inflación Real
[The Average Effective Consumer Price Index (AECPI): A Complementary Measure of Real Inflation]

Author

Listed:
  • Martin Sanchez, Endika

Abstract

English: This article proposes and analyzes the Average Effective Consumer Price Index (AECPI) as an essential complementary indicator to the traditional Consumer Price Index (CPI). Recognizing that the official CPI is based on an “average” consumption basket that does not reflect actual household spending, the AECPI adjusts its weightings according to effective spending patterns, derived from surveys such as the Household Budget Survey (HBS). This methodology provides a much more accurate representation of the real impact of inflation on family well-being. In specific contexts, such as the 2022 energy crisis, the difference between the AECPI and the official CPI exceeded two percentage points, revealing a significant underestimation of the actual inflation burden. This study discusses the advantages, limitations, and potential applications of the AECPI in a country’s socioeconomic analysis, highlighting its crucial relevance in today’s environment of high inflation, inequality, and pressure on purchasing power. Español: El presente artículo propone y analiza el Índice de Precios de Consumo Efectivo Medio (IPCEM) como un indicador complementario esencial al tradicional Índice de Precios de Consumo (IPC). Reconociendo que el IPC oficial se basa en una cesta de consumo "media" que no refleja la realidad del gasto de los hogares, el IPCEM ajusta sus ponderaciones según la estructura de gasto efectiva, derivada de encuestas como la Encuesta de Presupuestos Familiares (EPF). Esta metodología ofrece una representación mucho más precisa del impacto real de la inflación sobre el bienestar de las familias. En contextos específicos, como la crisis energética de 2022, la diferencia entre el IPCEM y el IPC oficial superó los dos puntos porcentuales, evidenciando una subestimación significativa de la carga inflacionaria real. Este estudio discute las ventajas, limitaciones y aplicaciones potenciales del IPCEM en el análisis socioeconómico de un país, subrayando su crucial relevancia en escenarios actuales de alta inflación, desigualdad y presión sobre el poder adquisitivo.

Suggested Citation

  • Martin Sanchez, Endika, 2026. "El Índice de Precios de Consumo Efectivo Medio (IPCEM): Enfoque Académico para el Análisis de la Inflación Real [The Average Effective Consumer Price Index (AECPI): A Complementary Measure of Real Inflation]," MPRA Paper 128330, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:128330
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    References listed on IDEAS

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    3. Kaplan, Greg & Schulhofer-Wohl, Sam, 2017. "Inflation at the household level," Journal of Monetary Economics, Elsevier, vol. 91(C), pages 19-38.
    4. Bart Hobijn & David Lagakos, 2005. "Inflation Inequality In The United States," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 51(4), pages 581-606, December.
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    7. Goodhart, Charles, 2001. "What Weight Should Be Given to Asset Prices in the Measurement of Inflation?," Economic Journal, Royal Economic Society, vol. 111(472), pages 335-356, June.
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    JEL classification:

    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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