Pomiar inflacji w czasach dużych zmian konsumpcji – szacunki obciążenia wskaźnika CPI dla Polski
Measuring Inflation in Times of Major Changes in Consumption – Estimates of CPI Bias for Poland

Author(s): Aleksandra Hałka, Agnieszka Leszczyńska-Paczesna
Subject(s): National Economy, Socio-Economic Research
Published by: Wydawnictwa Uniwersytetu Warszawskiego
Keywords: inflation; CPI bias; Laspeyres index; Fisher index; democratic index; consumption structure; COVID-19
Summary/Abstract: This chapter presents the problem of measuring inflation and how the choice of weights affects its level. Here, we focus on the analysis of the CPI bias resulting from the use of weights reflecting the past consumption structure and the choice of the plutocratic index. The empirical analysis is based on data for Poland. The study for the years 2015–2020 did not confirm the hypothesis of the overestimation of the CPI in Poland due to the effect of goods substitution. However, it confirmed the hypothesis of a positive plutocratic gap: the democratic index is higher than the plutocratic index.

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