A New Weighted Food CPI from Scanner Big Data in China

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Tác giả: Tao Ren, Zikun Song, Zhenkun Zhou

Ngôn ngữ: eng

Ký hiệu phân loại: 951.1 *China and adjacent areas

Thông tin xuất bản: 2023

Mô tả vật lý:

Bộ sưu tập: Metadata

ID: 198305

Scanner big data has potential to construct Consumer Price Index (CPI). The study introduces a new weighted price index called S-FCPIw, which is constructed using scanner big data from retail sales in China. We address the limitations of China's CPI especially for its high cost and untimely release, and demonstrate the reliability of S-FCPIw by comparing it with existing price indices. S-FCPIw can not only reflect the changes of goods prices in higher frequency and richer dimension, and the analysis results show that S-FCPIw has a significant and strong relationship with CPI and Food CPI. The findings suggest that scanner big data can supplement traditional CPI calculations in China and provide new insights into macroeconomic trends and inflation prediction. We have made S-FCPIw publicly available and update it on a weekly basis to facilitate further study in this field.
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