Inflation Measurement in the Era of COVID-19

Abstract

The outbreak of COVID-19 and the conflict between Russia and Ukraine have led to instability in the global economy and serious inflation in various countries, mainly due to sudden changes in household consumption patterns, countries differ in their initial response to the outbreak and the implementation of relevant policies, the sharp rise in energy prices and the monetary policies of various countries. The Chinese market has been the least affected due to China's timely control of the outbreak and the implementation of relevant policies to promote the economy in the later stage, while the US and European markets have not recovered to the pre-epidemic economic level so far. This paper analyzes the CPI and core-CPI data of the United States, Europe and China since the outbreak of COVID-19 in 2019, in order to judge the inflation situation of the United States, Europe and China under the double blow of COVID-19 and the Russia-Ukraine conflict.