How do you measure inflation during a pandemic?

This article is an on-site version of the Coronavirus Business Update Newsletter. Share this with your valuable friends and colleagues and let them know that you can read all of our newsletters and FTs for free for 30 days, even if you’re not a subscriber.Welcome, and Sign up here..

Coronavirus infection and vaccination

Number of cases worldwide: 172.1m

Total dose: 2000000000

Get our latest worldwide images Vaccine tracker

the latest news

  • France Announcing a color-coded system for travel, classified as “green” for EU member states, “orange” for the United Kingdom and the United States, and “red” for countries with serious epidemics such as India and South Africa. did

  • Canada Recorded unemployment for the second straight month as the country was blocked against the third wave of coronavirus

  • Britain BioNTech / Pfizer vaccine Children aged 12-15 years due to increased infections, including delta mutations in the coronavirus

For the latest information on coronavirus, visit the following website: Live blog

How do you measure Impact of rising prices When did the global pandemic completely overturn normal consumption patterns? This is today’s theme for the latest article in our series. Inflation: A new era?

Statistical authorities typically use baskets of goods and services to monitor the amount of money spent not only on daily necessities, but also on items such as restaurant visits and flights. Pandemic restrictions significantly reduce consumption it was done.

Depending on how these items are weighted, the reading can be significantly distorted. For example, in the euro area, weighting is updated every January, so items such as petrol, hotels, and restaurants that were affected by last year’s lockdown are less important in this year’s calculations. This means that official statistics underestimate spending in these areas, even if consumers return to pre-pandemic spending patterns.

This lack of clarity makes policy targeting even more difficult. Central bankerAlready suffering from a collapse of consensus on the best way to drive low prices and stable price growth.

Other indicators are being considered more and more.Is Used car market For example, it is closely monitored by the Federal Reserve Board of Governors (FRB).

And those who are convinced that this new era of inflation has already arrived have enough ammunition.For example, yesterday’s UN data is global Food prices rise 40% May — The biggest monthly jump since 2011.

World economy

Among the 47 Japanese companies that paid more than $ 3 billion in total, Tokyo Olympics – most A sporting event that has been heavily sponsored so far — I’m worried that it will be less cost-effective unless the match is postponed so that more spectators can participate. On the other hand, Japanese people are calm in this scene against the background of continued coronavirus infection and sluggish vaccination program.

Today’s attention Non-farm salary data showed that The U.S. added 559,000 jobs in May, less than expected The unemployment rate dropped to 5.8%.Individual data shown yesterday New unemployment insurance application It falls to the low level of the pandemic era.

EU Trade Secretary Valdis Dombrovski told FT he wanted to see Vaccine production Rather than upholding a US-backed patent waiver proposal Important World Trade Organization Conference June 8-9. Brussels wants to lift export restrictions and use existing WTO regulations on intellectual property to facilitate licensing. The United States announced the details of the plan yesterday. Donate millions of reserve doses As part of an attempt to become the “armory of vaccines in the world”.


“Hip National Treasure” sausage roll Greggs Or crayfish and avocado salad PretaLeisure industry reporter Alice Hancock said Lunch battle in Britain The difference between the two grocery chains against the backdrop of changes in boulevards and commuting habits.

Thanks to the success of the US vaccination program, the World of Concrete 2021 Las Vegas, Where $ 11.5 billion convention business It’s important for cities that have been hit hard by the pandemic. Event companies across the country are keen to revive the physical show, one industry executive said: “Virtual exhibitions, to be honest, don’t create the value customers are looking for.”

Will the reader be tempted again? bookstore Is lockdown nearing its end now? Columnist John Gapper reports a story about an Englishman trying to seduce an American. Leave Amazon and return to Barnes & Noble..


Because the rise in US stocks was smaller than expected We jobs It helped to alleviate the investor’s concern. The economy was overheating And the Fed will begin withdrawing stimulus. In Europe, the regional Stoxx 600 index remained close to the highest recorded earlier in the week.

Is US Federal Reserve Is to start selling Corporate bonds and bond funds The company purchased last year as part of an emergency program to help businesses rent cheaper. The secondary market corporate credit facility (SMCCF) utilization was low, but the Fed said it simply promised help and helped the market start functioning after the first pandemic panic. ..

Foreign investors bought record levels UK Government Debt New statistics from the Bank of England have helped fund a significant increase in borrowing to fund pandemic measures over the past year. UK assets have helped governments such as the Eurozone and Japan. It shows relatively high yields compared to countries where debt yields are traded below zero.

Please give us your opinion

Keine Lust’s comment Resuming hospitality in the UK did not increase retail traffic in May.::

What is clear is that shopping as a leisure activity has not recovered. It’s unclear at this point if it should be declared “yet”. Among some demographics that didn’t shop much online before the pandemic, structural changes towards wider dissemination could mean that it would never return to its original state. there is. The relationship between retail store patronage and eating out relies on the leisurely shopping and walk-in habits of restaurant chains. Targeted shopping with high conversion rates is another thing. And the eating out side is a specific (and planned) trip in its own right, can’t do it itself, doesn’t have to book a specific time, and focuses on local pubs and restaurants rather than in the center of town. Is placed. Eating out is usually done during or at the end of a leisure shopping trip.

So this is not surprising to me. Few of the best food-oriented pubs, especially those with outdoor spaces where many people can spend more comfortably, in or near major shopping districts.

Final idea

Hong Kong’s real estate market is the most expensive in the world, but some major real estate is neglected. Reason?The combination of superstition, mystery and skulduggery makes many people Haunted. ..

Rumors and ghost stories surrounding the Dragon Lodge at Victoria Peak in Hong Kong © Alamy

Recommended newsletter

Editor’s choice — FT Editor’s personal favorite story selection. Sign up here

City bulletin — Pre-market updates and commentary on Blythe Elder. Sign up here

We look forward to hearing from you.Please send your reaction or suggestion to covid@. Thank you

How do you measure inflation during a pandemic?

Source link How do you measure inflation during a pandemic?

Exit mobile version