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Inflación y Covid-19: un ejercicio para Colombia

Author

Listed:
  • Edgar Caicedo-García
  • Jesús Daniel Sarmiento-Sarmiento
  • Ramón Hernández-Ortega

Abstract

La pandemia de covid-19 alteró el patrón de consumo de los hogares a nivel mundial. Estos cambios no los incorpora el IPC porque dicha medición se basa en una canasta fija de bienes, lo cual podría estar subestimando la inflación en Colombia. En este documento se hace un ejercicio utilizando una estructura de ponderaciones alternativa para evaluar los cambios que podría presentar el cálculo en el IPC durante el periodo de la pandemia. Los resultados muestran que los precios al consumidor estarían aumentando más rápido de lo que muestran las medidas del IPC con ponderaciones fijas. **** ABSTRACT: The covid-19 pandemic distorted the pattern of household consumption. Consequently, the official fixed basket CPI could be measuring inaccurately the evolution of inflation. The exercise presented in this document, was to update the weighting structure of the basket with alternative information on consumption and household expenditures to explore how the inflation calculations could be affected during the pandemic period. The results indicate that CPI would be increasing faster than the fixed basket CPI measures reveals.

Suggested Citation

  • Edgar Caicedo-García & Jesús Daniel Sarmiento-Sarmiento & Ramón Hernández-Ortega, 2022. "Inflación y Covid-19: un ejercicio para Colombia," Borradores de Economia 1198, Banco de la Republica de Colombia.
    • Handle: RePEc:bdr:borrec:1198
    DOI: 10.32468/be.1198
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    References listed on IDEAS

    as
    1. Edgar caicedo, 2000. "Problemas En La Medición Del Ipc, El Caso Colombiano," Borradores de Economia 3381, Banco de la Republica.
    2. W. Erwin Diewert & Kevin J. Fox, 2020. "Measuring Real Consumption and CPI Bias under Lockdown Conditions," NBER Working Papers 27144, National Bureau of Economic Research, Inc.
    3. Pascal Seiler, 2020. "Weighting bias and inflation in the time of COVID-19: evidence from Swiss transaction data," Swiss Journal of Economics and Statistics, Springer;Swiss Society of Economics and Statistics, vol. 156(1), pages 1-11, December.
    4. Mr. Marshall B Reinsdorf, 2020. "COVID-19 and the CPI: Is Inflation Underestimated?," IMF Working Papers 2020/224, International Monetary Fund.
    5. Edgar Caicedo, 2000. "Problemas en la medición del IPC, el Caso Colombiano," Borradores de Economia 152, Banco de la Republica de Colombia.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Inflación; COVID-19; patrón de consumo; Índice de precios al consumidor (IPC); inflation; COVID-19; consumption pattern; consumer price index (CPI).;
    All these keywords.

    JEL classification:

    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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