USE OF SCANNER DATA IN MEASURING THE CONSUMER PRICE INDEX IN THE CONDITIONS OF THE SLOVAK REPUBLIC

HELENA GLASER - OPITZOVÁ

https://doi.org/10.53465/EDAMBA.2021.9788022549301.92-102

 

Abstract: The compilation of the Consumer Price Index (CPI) is, in the conditions of the Slovak Republic, based on the fixed consumer basket. Only the lockdown during pandemics showed us how a fixed basket can very quickly become irrelevant due to a rapidly changing model of consumer behaviour. The changeover from traditional data collection to the usage of data from scanners practically means the passing from static universe of selected sorts of goods to the dynamic universe of all goods consumed. While classical bilateral indices may be appropriate for a fixed basket, the transition to a dynamic approach raises the question of whether traditionally used methods are still valid. Our goal is to publish high quality index and therefore it is necessary to bear in mind that the index number formula selection and methods applied to data from scanners can have a significant impact on achieved results. The paper presents the basic conceptual framework for the use of scanner data for the purposes of compiling the CPI in relation to selected findings of the experimental study performed on real data of five retail chains for the “Food and non-alcoholic beverages” division.

Keywords: scanner data, Consumer Price Index, Index Number Formula

JEL classification: E43, E31

Fulltext: PDF

Online publication date: 12 May 2022

 

To cite this article (APA style): 

Glaser-Opitzová, H. (2022). Use of Scanner Data in Measuring the Consumer Price Index in the Conditions of the Slovak Republic. Proceedings from the EDAMBA 2021 conference, 92 – 102. https://doi.org/10.53465/EDAMBA.2021.9788022549301.92-102