Regional Consumer Price Differences Within Germany

2010 ◽  
Vol 230 (6) ◽  
Author(s):  
Stefan Linz
Keyword(s):  
Price Index ◽  
Consumer Price Index ◽  
Sufficient Information ◽  
Price Development ◽  
Price Data ◽  
Ex Post ◽  
Consumer Prices ◽  
Information Demand ◽  
Price Comparisons ◽  
Over Time

SummaryEvery month the Consumer Price Index for Germany (CPI) provides comprehensive and detailed information regarding the price development over time. However, when differences in the price level across regions in Germany have to be analysed at a given point in time, sufficient information is not available at present.Interest in regional consumer price data is shown by both scientists and policy makers. Currently, this information demand is not met as regional consumer prices or regional price comparisons are not provided by the Federal Statistical Office in Germany.Data available from the German Consumer Price Index is suitable to follow the price development over time but cannot be used directly to compare price levels of different regions because the goods tracked may be different from region to region.The article first considers the information demand and gives an overview of existing price data. Its main part refers to an empirical study which was conducted to check if existing Consumer Price Index data can be used to calculate regional consumer price comparisons by ex-post selecting comparable products.

scholarly journals Measuring spatial price differentials at the basic heading level: a comparison of stochastic index number methods

2021 ◽  
Author(s):  
Sebastian Weinand
Keyword(s):  
Price Level ◽  
Consumer Price Index ◽  
Index Number ◽  
Price Data ◽  
Estimation Efficiency ◽  
Spatial Price ◽  
Price Comparisons ◽  
High Degree ◽  
The Impact

AbstractSpatial price comparisons rely to a high degree on the quality of the underlying price data that are collected within or across countries. Below the basic heading level, these price data often exhibit large gaps. Therefore, stochastic index number methods like the Country–Product–Dummy (CPD) method and the Gini–Eltetö–Köves–Szulc (GEKS) method are utilised for the aggregation of the price data into higher-level indices. Although the two index number methods produce differing price level estimates when prices are missing, the present paper demonstrates that both can be derived from exactly the same stochastic model. For a specific case of missing prices, it is shown that the formula underlying these price level estimates differs between the two methods only in weighting. The impact of missing prices on the efficiency of the price level estimates is analysed in two simulation studies. It can be shown that the CPD method slightly outperforms the GEKS method. Using micro data of Germany’s Consumer Price Index, it can be observed that more narrowly defined products improve estimation efficiency.

scholarly journals Törnqvist Formula for Сalculating a Consumer Price Index in Russia: Theory and Practice

2020 ◽  
Vol 27 (5) ◽  
pp. 87-94
Author(s):  
М. A. Kozlova
Keyword(s):  
Price Index ◽  
Empirical Studies ◽  
Consumer Price Index ◽  
Theory And Practice ◽  
Consumer Market ◽  
Country Level ◽  
Consumer Prices ◽  
Realistic Description ◽  
The Difference ◽  
Main Consumer

The article reflects the author’s position on the adjustment of the so-called substitution bias, which affects the value of the consumer price index, currently calculated using the Laspeyres formula. The author proposes a solution to the problem of the adequacy of statistical measurements of the dynamics of consumer prices in the case when, as a result of changing cost of the consumer basket, a buyer replaces a relatively expensive product with a relatively cheaper one. This solution is based on the existing index construction methodology (axiomatic, economic and stochastic approaches). The article substantiates the use of the Törnqvist formula, which has better properties in comparison with other formulae used in the construction of superlative indices. The authors calculated the Törnqvist price index for Russia based on Rosstat methodology and data using country-level quarterly group price indices and shares of consumer spending. To evaluate the results of empirical testing Laspeyres price index was compiled using the same quarterly data as the Törnqvist index. The values of the Törnqvist price index in most cases are less than the price dynamics obtained according to the Laspeyres formula. This conclusion is proved both theoretically and empirically, and it is confirmed for Russia as well. However, due to the non-observance of the conditions of smooth trends in consumer prices, the difference between the values of the Törnqvist and Laspeyres indices is significantly larger in certain quarters than that presented in empirical studies in other countries. Consumer price index, calculated using the Törnqvist formula, in the system of indicators of price statistics in Russia can be defined as an indicator that specifies the main consumer price index. Calculation of its value is necessary for a more realistic description of the processes taking place in the consumer market.

Retail and Consumer Prices, 1955-1963

1964 ◽  
Vol 30 ◽  
pp. 44-51 ◽  
Author(s):  
W. A. H. Godley ◽  
D. A. Rowe
Keyword(s):  
Price Index ◽  
Consumer Price Index ◽  
National Income ◽  
Food Prices ◽  
The Other ◽  
Short Term ◽  
Unit Costs ◽  
Correct Analysis ◽  
Consumer Prices ◽  
Retail Prices

This paper gives an account of a method of forecasting the Ministry of Labour's retail prices index, and of deriving from it a forecast of the consumer price index. (This is the index used in the National Income statistics to deflate the value of consumers' expenditure to volume terms.) Good forecasting obviously has to be based on a correct analysis of the factors which determine price changes; the article throws light on the way in which cost changes are taken into account when prices are changed. It seems that retail prices (apart from seasonal food prices) do not respond directly to short-term fluctuations in demand and output. Businessmen do not raise prices because demand suddenly rises; nor on the other hand do they lower them when output moves up sharply and unit costs fall. The analysis, therefore, provides further support for the ‘normal cost’ theory of pricing—that businessmen set prices by calculating their costs when working at some normal capacity, and add a conventional margin.

scholarly journals DEMAND FACTORS FOR BANKING LOANS IN UKRAINE: MODELING AND ASSESSMENT

2021 ◽  
Vol 1 (36) ◽  
pp. 46-56
Author(s):  
S. Hlushchenko ◽  
V. Shportyuk
Keyword(s):  
Interest Rates ◽  
Price Index ◽  
Statistical Data ◽  
Consumer Price Index ◽  
State Regulation ◽  
Var Model ◽  
Practical Application ◽  
Factors Influencing ◽  
Business Entities ◽  
Over Time

The article presents the results of modeling and assessment of the effects of demand factors for banking loans by business entities and households on the volume of bank loaning in Ukraine. The article summarizes the factors influencing on volume of banking loans according to the demand side of business entities and households; performed modeling based on statistical data for Ukrainian practice in the period from 2006 to 2020. The authors developed a VAR-model for estimating the factors influencing the banking loans demand by business entities. According to the constructed model, it is concluded that the change in demand for credit resources by business entities is due to changes in interest rates (by 30%), changes in industrial production index (15.6%), changes in PFTS index 10.7%), change in the price index of industrial producers (1.0%), change in themselves over time (42.5%). The authors also developed a VAR-model for estimating the factors influencing the banking loans demand from households. According to the constructed model, it is concluded that the change in demand for credit resources by households is due to changes in average wages (16.2%), changes in interest rates (16%), changes in expenditures (8.2%), changes in GDP (7.7%), the consumer price index (6.9%), the change in the number of registered unemployed (2.9%) and the change in themselves over time (42.1%). The obtained results can have practical application both within the formation of banking loan policy and within state regulation measures to influence the activation of the credit sector in the country.

Observed retail price of Australia’s market-leading cigarette brand before and up to 3 years after the implementation of plain packaging

2018 ◽  
Vol 28 (e2) ◽  
pp. e86-e91 ◽  
Author(s):  
Sam Egger ◽  
Suzan Burton ◽  
Rebecca Ireland ◽  
Scott C Walsberger
Keyword(s):  
Price Index ◽  
Consumer Price Index ◽  
Retail Price ◽  
Plain Packaging ◽  
Cigarette Brand ◽  
Retail Outlets ◽  
Change In Mean ◽  
Generalised Estimating Equations ◽  
Over Time ◽  
Cigarette Prices

ObjectiveDespite claims by tobacco companies that plain packaging would lead to lower cigarette prices, recommended and observed real cigarette prices in Australia rose in the 9–11 months after plain packaging was introduced. However, little is known about trends in prices longer term. In this report, we assess whether inflation (Consumer Price Index; CPI) and tax adjusted (‘CPI-tax-adjusted’) prices of the market-leading Australian cigarette brand changed in the 3-year period after plain packaging, and whether price changes were associated with retailer characteristics.MethodCigarette prices were ascertained from a panel of tobacco retailers at three time points: (1) in November 2012 (n=857) (before full implementation of plain packaging, compulsory in retail outlets from December 2012), (2) between October 2014 and February 2015 (n=789) and (3) between November 2015 and March 2016 (n=579). Generalised estimating equations were used to estimate percentage change in mean CPI/tax-adjusted cigarette prices over time.ResultsCPI/tax-adjusted adjusted mean stick prices rose by 13.7% (95% CI 13.0 to 16.0) and 15.2% (95% CI 14.3 to 16.0) at 2.1 and 3.1 years after plain packaging was introduced, respectively. Increases in mean CPI/tax-adjusted stick prices varied by outlet type (p<0.001), socioeconomic status (p=0.013) and remoteness of retailer’s area (p=0.028) and whether twin packs were sold (p=0.009).ConclusionsContrary to tobacco company predictions of a fall in prices, the price of the market-leading Australian cigarette brand increased significantly in the 3 years after plain packaging was introduced, and these increases were above the combined effects of inflation and increases in excise/customs duty.

scholarly journals Sources of Bias and Solutions to Bias in the Consumer Price Index

2003 ◽  
Vol 17 (1) ◽  
pp. 23-44 ◽  
Author(s):  
Jerry Hausman
Keyword(s):  
Price Index ◽  
Consumer Price Index ◽  
Second Order ◽  
Order Effects ◽  
Scanner Data ◽  
Cost Of Living ◽  
First Order ◽  
Consumer Prices ◽  
Substitution Bias ◽  
Cost Of Living Index

Four sources of bias in the Consumer Prices Index (CPI) have been identified. The most discussed is substitution bias, which creates a second order bias in the CPI. Three other changes besides prices changes create first order effects on a correctly measured cost of living index (COLI). I explain in this paper that a “pure price” based approach of surveying prices to estimate a COLI cannot succeed in solving the 3 problems of first order bias. I discuss economic and econometric approaches to measuring the first order bias effects as well as the availability of scanner data that would permit implementation of the techniques.

Retail and Consumer Prices: an Explanatory Note

1980 ◽  
Vol 94 ◽  
pp. 73-76 ◽  
Keyword(s):  
Price Index ◽  
Consumer Price Index ◽  
Retail Price ◽  
Summary Table ◽  
Price Inflation ◽  
Consumer Prices ◽  
Explanatory Note

In this Review, as a response to comments from readers, we have replaced the consumer price index by the retail price index as a measure of annual price inflation in our Summary table of our forecast for the home economy. This note therefore sets out the differences between the two series in order to make the nature of the change clear.

scholarly journals The case of eculizumab: litigation and purchases by the Brazilian Ministry of Health

2020 ◽  
Vol 54 ◽  
pp. 22
Author(s):  
Rosângela Caetano ◽  
Paulo Henrique Almeida Rodrigues ◽  
Marilena C Villela Corrêa ◽  
Pedro Villardi ◽  
Claudia Garcia Serpa Osorio-de-Castro
Keyword(s):  
Federal Government ◽  
Price Index ◽  
Consumer Price Index ◽  
Weighted Average ◽  
Secondary Data ◽  
Federal Agencies ◽  
Ministry Of Health ◽  
Market Approval ◽  
Increasing Trend ◽  
Over Time

OBJECTIVES: This study examined the purchases of eculizumab, a high-cost monoclonal antibody used in the treatment of rare diseases by Brazilian federal agencies, in terms of purchased quantities, expenditures, and prices. METHODS: Eculizumab purchases made between March 2007 and December 2018 were analyzed, using secondary data extracted from the Federal Government Purchasing System (SIASG in Portuguese). The following aspects were assessed: number of purchases, purchased quantities, number of daily doses defined per 1,000 inhabitants per year, annual expenditures, and prices. The prices were adjusted by the National Broad Consumer Price Index for December 2018. Linear regression was used for trend analysis. RESULTS: All acquisitions by federal agencies were made by the Brazilian Ministry of Health. The purchases began in 2009 with tender waiver to comply with legal demand. There was an increasing trend in the number of purchases and quantities acquired over time. Two hundred and eighty-three purchases were made, totaling 116,792 units purchased, 28.2% of them in 2018. The adjusted total expenses summed more than R$ 2.44 billion. After market approval by the Brazilian Health Regulatory Agency, the weighted average price fell approximately 35%, to values under the Medicines Market Chamber of Regulation established prices. CONCLUSION: Eculizumab represented extremely significant expenditures for the Brazilian Ministry of Health during the period. All purchases were made to meet demands from lawsuits, outside the competitive environment. The market approval of eculizumab promoted an important price reduction. This study indicates the relevance of licensing and the need for permanent monitoring and auditing of drug purchases to meet legal demands.

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.

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