AI Article Synopsis
- - Using online price data and real-time debit card transactions, researchers can monitor Switzerland's inflation on a daily basis, which provides more up-to-date insights compared to traditional methods.
- - During the COVID-19 lockdown, daily price indices showed an immediate drop, while official statistics lagged behind due to delays in data collection caused by the lockdown.
- - This real-time data helps identify the impacts of demand and supply shocks, assisting policymakers in making informed decisions about the necessary economic measures.
Article Abstract
Using online data for prices and real-time debit card transaction data on changes in expenditures for Switzerland allows us to track inflation on a daily basis. While the daily price index fluctuates around the official price index in normal times, it drops immediately after the lockdown related to the COVID19 pandemic. Official statistics reflect this drop only with a lag, specifically because data collection takes time and is impeded by lockdown conditions. Such daily real-time information can be useful to gauge the relative importance of demand and supply shocks and thus inform policymakers who need to determine appropriate policy measures.
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Source |
|---|---|
| http://www.ncbi.nlm.nih.gov/pmc/articles/PMC7609834 | PMC |
| http://dx.doi.org/10.1186/s41937-020-00062-w | DOI Listing |
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