Statisticians grapple with inflation impact of Covid-19
Collecting reliable inflation figures during lockdown is not straightforward
Statistical authorities are scrambling to adapt their processes for gathering inflation data, as standard approaches have been severely impacted by lockdown measures in response to the Covid-19 pandemic.
The standard approach to gathering inflation data has not changed much over the years. Statisticians design a basket of representative goods and services and then go out and gather their prices. The advent of e-commerce has shifted some of this work online but, before lockdown, a large number
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