Helene Zimmer Wikipedia, Biography, Instagram, Net Worth, Age
Helene Zimmer Wikipedia, Biography, Instagram, Net Worth, Age – The first coronavirus lockdown forced Belgian households to drastically change their spending habits. Two NBB economists, Hélène Zimmer and Jana Jonckheere, assess how this shift in consumption affects the way inflation is measured in an article that will appear in the December issue of the Economic Review. .
Helene Zimmer Wikipedia, Biography, Instagram, Net Worth, Age
A quarantine state was introduced in March. What impact does it have on household consumption structure?
Consumer habits have undergone a significant change due to the isolation and closure of so-called non-essential stores, reduced incomes of temporary workers and self-employed workers, and uncertainty about the conditions for exiting the crisis. Resolution. The share of other categories, such as clothing, restaurants, motor vehicle purchases, etc., fell to the lowest level in April 2020, then rose again. Relative to total expenditure, food consumption has increased.
And how does it affect inflation?
It looks like inflation may have been higher, 0.4 percentage points in April and May, suggesting that the impact of this adjustment on the consumer basket for the year may be larger than previously thought. This. Overall, the impact seems to be less noticeable over the entire timeframe considered (February to July). Due to the fact that it was added at a time when food prices were rising globally, the perception of more inflation was heightened.
Why did food costs spike during the initial outage?
Both reasons related to the coronavirus and variables unrelated to the health crisis can be blamed for this price increase. For example, some bottlenecks in the supply chain have increased costs. Furthermore, supermarket specials have been temporarily banned in an effort to prevent hoarding. Most significantly, the price of fresh produce increased, but non-Covid-related causes such as a recovery in European meat demand due to African swine fever and weather-related factors also had a significant impact. tell. Not only in Belgium, neighboring countries also raised food prices.
Are there any differences in the spending habits of high- and low-income households?
As consumption is limited to certain types of products, and consumer profiles between high- and low-income households increasingly differ during the lockdown, this is a topic of discussion. attractive. In fact, the poorest households have lower overall inflation rates because it is well known that people with higher incomes spend more money on food products than those with lower incomes. energy products, which have been heavily discounted. Do not ignore their financial problems, as these households are likely to suffer the greatest loss of income during the crisis.
According to your research, customers expect a significant price increase. Is this an overreaction?
Specifically, the monthly consumer survey conducted by the Bank showed that inflation has decreased for several months, inflation expectations in April increased significantly. Indeed, inflation expectations tend to be balanced against the current purchase price. During the crisis, fuel prices rise slowly or even fall relative to other goods (such as some services), while more consumed food products become more expensive. Since that time, however, these expectations have dwindled. Therefore, it remains unclear whether household concerns about inflationary stress will increase significantly.
- Wikipedia about Yng Lvcas
- Wikipedia Alasdair Nichol
- Wikipedia page about Kylie Atwood
- Wikipedia about Elizabeth MacDonald
- WikipediaSam Donaldson
Categories: Biography
Source: newstars.edu.vn