Wholesale and Retail Prices in the Nineteenth Century

1958 ◽  
Vol 18 (3) ◽  
pp. 298-316 ◽  
Author(s):  
Ethel D. Hoover
Keyword(s):  
World War I ◽  
Price Index ◽  
Consumer Price Index ◽  
Wholesale Price ◽  
Department Of Agriculture ◽  
Goods And Services ◽  
Wholesale Price Index ◽  
Price Indexes ◽  
Retail Prices ◽  
Bureau Of Labor Statistics

Today's best-known price indexes for Wholesale Price and Consumer Price Indexesthe Unitedof theStates are the Bureau of Labor Statistics, and the Indexes of Prices Received and Paid by Farmers, issued by the Department of Agriculture. These indexes, however, are comparatively new. The “Wholesale Price Index” dates from 1902 with indexes covering the years 1890-1901. The “Consumer Price Index” is of even more recent origin. Retail food price indexes were established on a regular basis in 1901, again with data back to 1890. Other goods and services were not added until after World War I, with estimates back to 1913 based on special studies in shipbuilding cities. The “Index of Prices Received by Farmers” was issued by the Department of Agriculture in 1924 and “Prices Paid by Farmers” in 1928. Botfi of these series were extended back to 1910.

scholarly journals Statistical Method to predict Agricultural CPI

2020 ◽  
Vol 8 (12s3) ◽  
pp. 59-62
Keyword(s):  
Urban Areas ◽  
Price Index ◽  
Consumer Price Index ◽  
Wholesale Price ◽  
Market Value ◽  
Goods And Services ◽  
Consumer Prices ◽  
Wholesale Price Index ◽  
Future Prediction ◽  
The Cost

The growth of any country depends on its economy and economic growth is nothing but an increase in the inflation i.e. adjusted market value of the goods and services produced by an economy over time. Statisticians conventionally measure such inflation using the price indices. They are mainly WPI (Wholesale Price Index and CPI (Consumer Price Index). WPI is now known to be an older method of computation because the main focus has to be on consumer prices.CPI is a measure of consumer prices over a certain period. Changes in the CPI are used to assess price changes associated with the cost of living. It can be calculated for rural, urban areas as well as for both. In CPI rural, the workers and labourers are benefitted as their daily wages can be predicted by this approach. The CPI by state data represents the inflation of each of the states giving a concise view of the country. The data is collected and analysed using a mathematical approach called linear regression in future prediction for rural labours based on previous data.

scholarly journals The Billion Prices Project: Using Online Prices for Measurement and Research

2016 ◽  
Vol 30 (2) ◽  
pp. 151-178 ◽  
Author(s):  
Alberto Cavallo ◽  
Roberto Rigobon
Keyword(s):  
Price Index ◽  
Consumer Price Index ◽  
Economic Research ◽  
Sources Of Information ◽  
Advantages And Disadvantages ◽  
Reliable Source ◽  
Price Indexes ◽  
Retail Prices ◽  
Project Data ◽  
Source Of Information

A large and growing share of retail prices all over the world are posted online on the websites of retailers. This is a massive and (until recently) untapped source of retail price information. Our objective with the Billion Prices Project, created at MIT in 2008, is to experiment with these new sources of information to improve the computation of traditional economic indicators, starting with the Consumer Price Index. We also seek to understand whether online prices have distinct dynamics, their advantages and disadvantages, and whether they can serve as reliable source of information for economic research. The word “billion” in Billion Prices Project was simply meant to express our desire to collect a massive amount of prices, though we in fact reached that number of observations in less than two years. By 2010, we were collecting 5 million prices every day from over 300 retailers in 50 countries. We describe the methodology used to compute online price indexes and show how they co-move with consumer price indexes in most countries. We also use our price data to study price stickiness, and to investigate the “law of one price” in international economics. Finally we describe how the Billion Prices Project data are publicly shared and discuss why data collection is an important endeavor that macro- and international economists should pursue more often.

scholarly journals ESTIMATION OF LONG-RUN RELATIONSHIP OF INFLATION (CPI & WPI), AND OIL PRICES WITH KSE-100 INDEX: EVIDENCE FROM JOHANSEN MULTIVARIATE COINTEGRATION APPROACH

2017 ◽  
Vol 23 (4) ◽  
pp. 567-588 ◽  
Author(s):  
Rizwan RAHEEM AHMED ◽  
Jolita VVEINHARDT ◽  
Dalia ŠTREIMIKIENĖ ◽  
Saghir Pervaiz GHAURI ◽  
Nawaz AHMAD
Keyword(s):  
Crude Oil ◽  
Price Index ◽  
Consumer Price Index ◽  
Wholesale Price ◽  
Impulse Response Function ◽  
Oil Prices ◽  
Crude Oil Prices ◽  
Long Run ◽  
Wholesale Price Index ◽  
Relationship Of

This research is an attempt to framework the applied strides to evaluate the long run relationship among commonly used inflation proxies induces such as, wholesale price index (WPI) and consumer price index (CPI), and crude oil price (COP) with KSE100 index returns. In this research we used monthly data for the time period from July 1995 to June 2016, and thus, in this way total 252 observations have been considered. Time series have been made stationary by applying ADF and PP tests at first difference. Johansen multivariate conintegration approach was used to test the long-term association amongst the considered macroeconomic variables. The results indicated that CPI and COP significantly affect KSE100 index returns that indicated CPI along with COP have foreseen power to impact KSE100 index. In contrary, the results of WPI and COP do not have long run relationship with KSE100 index in case of Pakistani economy. Results of variance decomposition exhibited that the index of LKSE100 was realistically rarer exogenous in connection to distinctive factors, as around 92.31% of its variation was explained due to its own specific shocks. It is concluded that CPI and COP can impact the KSE100 index returns. It is confirmed by the results of impulse response function that there is a positive and long run relationship between KSE100 returns and consumer price index (proxy of inflation) and international crude oil prices.

scholarly journals U.S. consumer price index in the second half of XX century: calculation strategy and ways of its changes

2019 ◽  
Vol 16 (6) ◽  
pp. 67-76
Author(s):  
M. A. Kozlova
Keyword(s):  
Price Index ◽  
Consumer Price Index ◽  
Index Number ◽  
Goods And Services ◽  
Level Of Aggregation ◽  
High Level ◽  
Bureau Of Labor Statistics ◽  
Alternative Solutions ◽  
Data Generalization ◽  
Index Calculation

The purpose of this research is a detection of U.S. consumer price index development and change ways emerged in the second half of XX century. Consumer price index is considered as a practically evaluable index number.Materials and methods. This research is based on the methodology documents of U.S. Bureau of Labor Statistics and its theoretical and practical papers published in Monthly Labor Review. The basic method is historical and descriptive techniques.Results. Data generalization for U.S. consumer price index across five revisions is realized in structure of the calculation method, adapted by ROSSTAT for the national consumer price index. Firstly the dynamic of number of cities, included in consumer price survey and changes of its sample is analyzed. Secondly the principles of point of purchase sampling is in focus. Thirdly the set of goods and services and dynamics of its structure are considered. Fourthly there is a generalization of pricing procedure principles that is frequency according to the type of cities and feature of goods and services. Fifthly the source and limits of data collecting for weights which needed for consumer price index calculation on the high level of aggregation. And sixthly there is description of mean price and price index calculation.Conclusion. The main ways of development and transformation in U.S. consumer price index are defined. It may be considered as alternative solutions in consumer price index of other countries. The main ways are the increase of city and goods sampling, extension of probability use, formation of good classification, equal temporal interval of weight renovation and creation of price index system.

scholarly journals Towards inflation targeting in Egypt: the relationship between exchange rate and inflation

2012 ◽  
Vol 15 (3) ◽  
pp. 325-332 ◽  
Author(s):  
Aliaa Khodeir
Keyword(s):  
Exchange Rate ◽  
Inflation Targeting ◽  
Price Index ◽  
Consumer Price Index ◽  
Wholesale Price ◽  
Strong Relationship ◽  
Causality Test ◽  
Wholesale Price Index ◽  
Exchange Rate Movements ◽  
The Relationship

Since the Egyptian economy has recently moved towards inflation targeting, it became very important to know whether exchange rate movements have serious inflationary implications or not. To investigate this subject, the study aims to analyse the relevance of inflation with the exchange rate by using the Granger-causality test. Two indicators of inflation will be used, the consumer price index (CPI) and wholesale price index (WPI). In general, the results show a strong relationship between the two variables in a way that may give support to the application of ‘flexible inflation targeting regime instead of strict inflation targeting regime’.

A Measure of Inflation in Pakistan

1961 ◽  
Vol 1 (1) ◽  
pp. 76-79
Author(s):  
S. U. Khan
Keyword(s):  
Price Index ◽  
Wholesale Price ◽  
Cost Of Living ◽  
Monthly Basis ◽  
Inflationary Pressure ◽  
Wholesale Price Index ◽  
Central Statistical ◽  
Retail Prices ◽  
Central Statistical Office ◽  
Limited Coverage

Although a number of series on wholesale and retail prices are being published by the Central Statistical Office and other organizations, there is no general price index to measure annual price changes in the country. The price indices (composed of more than one commodity) presently available in Pakistan are cost of living indices of limited coverage. This mono¬graph presents an annual wholesale price index for the purpose of measuring the extent of inflationary pressure in Pakistan. The index is computed for the East and West wings separately and for the whole of Pakistan. It dates from 1951-52 through 1959-60 (July-June), with 1951-52 as the base year. Owing to lack of data, it was not possible to carry the index back to Partition, while the need for accuracy precluded the construction of the index on a quarterly or monthly basis. The choice of 1951-52 as the base year is inevitable if the special conditions of the Korean Boom, its aftermath and the Plan period are to be avoided. Moreover, 1951-52 was a year of fewer controls, and prices in that year did not differ much from the preceding two years.

scholarly journals The Indian Inflation 2006–2016: An Econometric Investigation

2019 ◽  
Vol 20 (1) ◽  
pp. 46-69 ◽  
Author(s):  
Paramita Mukherjee ◽  
Dipankor Coondoo
Keyword(s):  
Coming Out ◽  
Price Index ◽  
Consumer Price Index ◽  
Wholesale Price ◽  
Policy Implications ◽  
Fuel Price ◽  
Relative Prices ◽  
Wholesale Price Index ◽  
The Relationship

Recently several changes have been adopted in the conduct of monetary policy in India, like tracking CPI (Consumer Price Index), targeting inflation and so on. However, certain curious features of inflation may have some implications on the effectiveness of such measures. This article tries to explore the nature of inflation during the last decade. There are certain views about the nature of Indian inflation from the structuralist perspective. This article contributes to the literature by empirically testing those propositions and coming out with some significant policy implications. The article is based on monthly data from January 2006 to March 2016. By employing econometric techniques like cointegration and vector autoregression (VAR), the article tries to explain the movements of different components of WPI (Wholesale Price Index) and CPI inflation, both core and headline inflation and how they are related to macroeconomic policy variables. The empirical analyses focus on finding out the existence of co-movements among the inflation and macroeconomic variables, explaining the role of components like food and fuel price in driving CPI and WPI. The results have some important policy implications. First, the movements of WPI and CPI and their headline and core counterparts are not explained by same set of variables. Second, food inflation is not explained by agricultural output pointing to the insufficient increase in supply in agriculture. Third, the determinants of CPI headline and core inflation are not same. So, both of them should be tracked while formulating policies. The relationship among the components of inflation point to the possibility of some adjustment in demand from one set of goods to another, implying adjustments in terms of relative prices which needs further exploration. JEL: E31, E52, C32

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