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Helene Zimmer Wikipedia, Biography, Instagram, Net Worth, Age
Helene Zimmer. Two of the NBB’s economists, Hélène Zimmer and Jana Jonckheere, have assessed how this change in spending has impacted the way inflation is measured in an article that will appear in the December issue of the NBB. Economic Journal.
Helene Zimmer Wikipedia, Biography, Instagram, Net Worth, Age
In March, a lockdown was imposed. What impact does this have on the household’s spending structure?
Consumer habits have undergone a significant change due to the lockdown and closure of so-called non-essential stores, the income of temporarily laid off and freelance workers, and the Uncertainty surrounding the conditions for the crisis’ resolution. The share of other categories, such as clothing, restaurants, motor vehicle purchases, etc., fell to a low in April 2020, then they rose again. Compared to total spending, food consumption has increased.
And how does it affect inflation?
It seems likely that inflation may have been higher, 0.4 percentage points in April and May, suggesting that the impact of this adjustment on the consumer basket throughout the year could be larger than the recession. thought before. The effect seems to be less noticeable on average 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 higher inflation was heightened.
Why did food costs skyrocket during the initial lockdown?
Both coronavirus-related reasons and variables unrelated to the health crisis can be blamed for this price increase. For example, some supply chain constraints have increased costs. Furthermore, supermarket specials are temporarily outlawed in an effort to prevent hoarding. Most notable is the increase in the cost of fresh produce, however non-COVID causes such as a return to European meat demand due to African swine fever and weather-related factors as well. have a significant impact. Not only in Belgium but also in neighboring countries, food prices also increased.
Are there any differences in the spending habits of high- and low-income households?
Because consumption is restricted to specific product categories, and consumer profiles between high- and low-income households have become increasingly different during the lockdown, it’s an attractive topic. 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. for energy products, which have seen sharp declines in prices. Do not ignore their financial struggles, as these households are likely to have suffered the biggest loss of revenue during the crisis.
According to your research, customers anticipate a significant price increase. Is this an overreaction?
In fact, the monthly consumer survey the Bank conducts shows that while inflation has declined for a number of months, inflation expectations have risen significantly in April. True inflation expectations tend to be over-weighted for the current purchase price. Fuel prices have risen slowly or even fallen in times of crisis relative to other commodities (such as some services), while food items, which are used more frequently, have biggest price. Since that time, however, these predictions have dwindled. Therefore, it remains unclear whether household anxiety about inflationary stress will increase significantly.
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Categories: Biography
Source: vothisaucamau.edu.vn
