Publication Theoretical and practical approaches to measuring inflation in times of the coronavirus pandemic

High-quality statistics are indispensable in responding to the coronavirus crisis and its enormous impact on society and the economy. Against this background, inflation measurement is of particular importance, which is reinforced by the review of the European Central Bank’s monetary policy strategy. This article describes the practice of calculating the national consumer price index (CPI) as well as the Europe-wide Harmonised Index of Consumer Prices (HICP). It also addresses aspects of inflation measurement that are widely discussed at present, such as how to deal with quality changes and the inclusion of assets. Furthermore, the article considers the challenges of price measurement and the price development during the coronavirus pandemic.

Authors: Susanne Hagenkort-Rieger, Nadin Sewald

Article published in "WISTA – Scientific Journal", 1-2021