Goods and Services Tax Effects on Goods and Services Included in the Consumer Price Index Basket*

This paper investigates whether house prices provide a suitable hedge against inflation in South Africa by analysing the long-run relationship between house prices and the prices of non-housing goods and services. Quarterly data series are collected for the luxury, large middle-segment, medium middle-segment, small middle-segment and the entire middle segment of house prices, as well as, the consumer price index excluding housing costs for the period 1970:Q1–2011:Q1. Based on autoregressive distributed lag (ARDL) models, the empirical results indicate long-run cointegration between the house prices of all the segments and the consumer price index excluding housing costs. Moreover, the long-run elasticity of house prices with respect to prices of non-housing goods and services, i.e., the Fisher coefficient is greater than one for the luxury segment, virtually equal to one for the small middle-segment, and less than one for the large and medium middle-segments, as well as the affordable segments. More importantly though, the estimated Fisher coefficients are not statistically different from unity – a result consistent with the proposed theoretical framework relating housing prices and consumer prices excluding housing expenditure. In general, we infer that house prices in South Africa provide a stable inflation hedge in the long-run.

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Analisis Perkembangan Indeks Harga Konsumen di Kota Medan

Journal of Economic Bussines and Accounting (COSTING) ◽

10.31539/costing.v3i2.1162 ◽

2020 ◽

Vol 3 (2) ◽

pp. 412-418

Author(s):

Sari Wulandari ◽

Muhammad Dani Habra

Keyword(s):

Price Index ◽

Inflation Rate ◽

Consumer Price Index ◽

Commodity Prices ◽

Household Expenditure ◽

The Public ◽

Goods And Services ◽

City Community ◽

The Subject ◽

The City

The Consumer Price Index (CPI) is one of the important economic indicators that can provide information about the development of prices of goods and services (commodities) paid by consumers or the public especially the city community. This study aims to analyze the Development of the Consumer Price Index in Medan City. The benefits of this research are a description of the fluctuations in commodity prices for basic needs of the community at the level of consumers or retail traders. This type of research is descriptive qualitative. The subject in this study is the Central Statistics Agency and the object in this study is the Consumer Price Index through seven groups of household expenditure in 2018-2019. The results showed that the development of price indices in Medan City tends to fluctuate from seven types of household expenditure groups. During the January-December 2019 period the highest inflation of the seven types of expenditure was foodstuffs. Keywords: Consumer Price Index, Inflation Rate

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

Statistics and Economics ◽

10.21686/2500-3925-2019-6-67-76 ◽

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.

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Analisis Indeks Harga Konsumen (IHK) Menurut Kelompok Pengeluaran Nasional Tahun 2018

Jurnal Perspektif ◽

10.15575/jp.v3i2.48 ◽

2019 ◽

Vol 3 (2) ◽

pp. 110

Author(s):

Halida Sofiah Noor ◽

Cucu Komala

Keyword(s):

Interest Rates ◽

Price Index ◽

Consumer Price Index ◽

Economic Indicator ◽

Index Number ◽

Important Indicator ◽

Goods And Services ◽

Time Period ◽

Rate Of Increase ◽

Rate Of Decline

The Consumer Price Index is an important indicator of the financial market. The Consumer Price Index (CPI) is an index number that describes changes in prices of goods and services consumed by the public in general for a certain period with a predetermined time period. National expenditure according to CPI is divided into four sub-groups, namely the first general sub-group, the second sub-group of foodstuffs the third sub-group of processed foods, beverages, cigarettes and tobacco and fourth sub-group housing, water, electricity, gas and fuel development CPI 2018, every month from January to December tends to increase. Changes in CPI can describe the rate of increase (inflation) or the rate of decline (deflation) of goods or services. CPI can be regarded as a very important economic indicator and is used to represent changes in the average retail price level at the consumer level for a number of certain types of goods and services. The rise in the CPI can lead to an increase in interest rates, increase in money supply growth, increase the attractiveness of currencies, and increase inflation.

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Transmission mechanism of monetary policy and response to outside shocks in 2020 by National Bank of the Republic of Kazakhstan

Bulletin of "Turan" University ◽

10.46914/1562-2959-2021-1-1-179-185 ◽

2021 ◽

pp. 179-185

Author(s):

G. G. Ilyassova ◽

Z. N. Abiyeva ◽

G. A. Perneyeva

Keyword(s):

Monetary Policy ◽

Money Supply ◽

Price Index ◽

Consumer Price Index ◽

Base Rate ◽

Transmission Mechanism ◽

Goods And Services ◽

Inflation Forecasts ◽

National Bank ◽

The Republic

The article examines the features and current state of monetary policy and transmission mechanism of the National Bank of Kazakhstan. The transmission mechanism is not a tool to achieve the goals set for the development of the modern economy. This mechanism is a set of interactions in economic processes through which the results of decisions or transactions in the framework of monetary policy affect the economy. In this regard, the article describes the level of inflation and its impact on the level of prices for goods and services. The situation with the use of the consumer price index to calculate inflation, calculated on the basis of the analysis of prices in the portfolio of consumer goods and services of the Ministry of National Economy of the Republic of Kazakhstan, is analyzed in detail. Macroeconomic and microeconomic factors, reflecting the viable direction of the monetary policy of the Republic of Kazakhstan, affect the level of the consumer price index. To make decisions, the NBRK conducts research to determine inflation forecasts. Inflationary expectations make it possible to assess the possible impact on the economy. In this context, the article states that the NBRK's inflation target will be achieved through the following channels (base rate, exchange rate and money supply). The conclusion is based on the fact that, given the global pandemic around the world, one can see the NBRK's expansionary monetary policy and decisions to lower the base rate, increase the money supply and stabilize the currency.

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Statistical Method to predict Agricultural CPI

International Journal of Innovative Technology and Exploring Engineering - Special Issue ◽

10.35940/ijitee.l1017.10812s319 ◽

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.

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Time Series Modeling and Forecasting of Consumer Price Index in Ghana

Journal of Advances in Mathematics and Computer Science ◽

10.9734/jamcs/2019/v32i130134 ◽

2019 ◽

pp. 1-11

Author(s):

Aabeyir Boniface ◽

Anokye Martin

Keyword(s):

Time Series ◽

Price Index ◽

Consumer Price Index ◽

Time Series Model ◽

Time Series Modeling ◽

Financial Indicators ◽

Goods And Services ◽

Trend Model ◽

Modeling And Forecasting ◽

S Model

The knowledge of economic and financial indicators is the basis of making right decisions and sound judgment with respect to investment and allocation scare of resources. Such important indicators include the consumer price index, which measures the change in the prices paid by households for goods and services consumed. A trigger in the consumer price in Ghana causes inflation which affects the purchasing power of its citizens. Knowledge of the trend of the CPI is crucial in economic planning. The study therefore sought to construct the appropriate time series model for the CPI and then use the model to predict the next nine months CPI. The study further sought to determine the type of trend model that characterizes the CPI. The Box-Jenkins methodology was adopted. The results of analysis showed SARIMA(2, 1, 1)(1, 0, 0)12 as most fitted time series model and was used to predict the consumer price index for the next nine months. The S-model was also found to be the appropriate trend model for the CPI. The SARIMA (2, 1, 1)(1, 0, 0)12 is recommended for forecasting consumer price index in Ghana.

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Impact of Macroeconomic Variables on Growth of Assets in Islamic Banks: A Case of Pakistan

International Review of Management and Business Research ◽

10.30543/10-1(2021)-4 ◽

2021 ◽

Vol 10 (1) ◽

pp. 33-37

Author(s):

ZAHOOR HUSSAIN JAVED ◽

MAHMOOD UL HASAN ◽

IQRA AROOG

Keyword(s):

Price Index ◽

Consumer Price Index ◽

Negative Influence ◽

Least Square ◽

Islamic Banks ◽

Macroeconomic Variables ◽

Ordinary Least Square ◽

Goods And Services ◽

Domestic Credit ◽

Negative Effect

The foremost intention of this study is to investigate the influence of macroeconomic variables on the growth of assets in Islamic banks of Pakistan for 11 years from 2008-2018. Descriptive statistics, correlation matrix, and ordinary least square technique are used for data analysis. Thus, the findings indicate that the provision of domestic credit (% GDP) has positive and a significant influence on the growth of assets in Islamic banks in Pakistan. The consumer price index has a negative influence on the growth of assets in Pakistan because as the consumer’s price index has been risen up, consumers reduce their expenditures on goods and services, thus gathering assets in Islamic banks will be reduced. Thus, the consumer’s price index has negative effect on the growth of assets in Islamic banks. The outcomes of this research are consistent with the previous studies and shows same results. Keywords: Macroeconomics Variables, Growth of Assets in Islamic Banks, Domestic Credit, Consumer Price Index, Pakistan.

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Inflation: A Malaysia Story

International Journal of Engineering and Advanced Technology - Regular Issue ◽

10.35940/ijeat.f1022.0986s319 ◽

2019 ◽

Vol 8 (6S3) ◽

pp. 132-135

Keyword(s):

Decision Making ◽

Price Index ◽

Price Level ◽

Consumer Price Index ◽

Policy Decision ◽

Point Of View ◽

Average Price ◽

Goods And Services ◽

Policy Decision Making ◽

Sustained Increase

Inflation in economics is defined as “a persistent and sustained increase in the aggregate or average price level of goods and services in an economy”. Inflation is mysterious where it can effect economy in various ways, either positive or negative. Inflation is measured using Consumer Price Index (CPI). Thus, this paper presents the story of inflation from Malaysia point of view. This paper also outlines the basic concept of inflation as its understanding is vital for policy decision-making.

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EXPERIENCE IN CALCULATING THE CONSUMER PRICE INDEX IN FRANCE: STATISTICS AND POLICY

Vestnik of Samara State University of Economics ◽

10.46554/1993-0453-2021-7-201-9-18 ◽

2021 ◽

Vol 7 (201) ◽

pp. 9-18

Author(s):

M.A. Kozlova ◽

Keyword(s):

Data Collection ◽

Historical Development ◽

Price Index ◽

Consumer Price Index ◽

Critical Assessment ◽

The Political ◽

Economic Systems ◽

Scientific Interest ◽

Goods And Services ◽

Two Factors

The article investigates the experience of forming the methodology for calculating the consumer price index (CPI) in France from the 1910s to the present. The peculiarities of the index functioning in France are determined by two factors: following the general trends in the development of the indicator methodology and the critical assessment by society of its role. In the first situation, the generalization of historical development is relevant in the light of the accumulation of experience in the formation of sample populations of settlements, points of sale and goods and services, that is necessary to improve the methodology of CPI calculation in other countries. The second situation of discussing the index functioning as an object of political manipulation in France is of scientific interest in order to study the significance of the indicator for society and transfer this experience to the socio-economic systems of other countries. The generalization of materials on data collection and computing techniques was carried out on the basis of dividing the CPI calculation into stages proposed by Rosstat and considered as standard within the framework of the international standard. The political context of the CPI development in France is presented in a separate part of the article on the basis of combining with methodology data for calculating the indicator.

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