Will CPIH inflation understate inflation for April 2020?

Dixon, Huw ORCID: https://orcid.org/0000-0002-9875-8965 2020. Will CPIH inflation understate inflation for April 2020? [Online]. www.niesr.ac.uk/blog: National Institute of Economic and Social Research. Available at: https://www.niesr.ac.uk/blog/will-cpih-inflation-u...

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Abstract

The ONS intends to alter the way it computes the CPIH index in response to the CV19 Lockdown and social distancing (ONS 2020). Partly this has to do with the collection of prices: partly with the calculation itself. Indeed in yesterday’s published minutes of the MPC, the problems of the scope of collection and the availability of certain price series was highlighted. The resultant CPIH will tend to overstate the fall in inflation because it gives excessive weight to items in the basket which may have falling prices (petrol, clothing and footwear) and very little demand in Lockdown.

Item Type:	Website Content
Date Type:	Published Online
Status:	Published
Schools:	Business (Including Economics)
Subjects:	H Social Sciences > HA Statistics H Social Sciences > HB Economic Theory
Publisher:	National Institute of Economic and Social Research
Last Modified:	09 Nov 2022 10:49
URI:	https://orca.cardiff.ac.uk/id/eprint/140767

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