Methodological note to the consumer price index for May 2020 (COVID-19)

 

Since governmental measures were imposed due to COVID-19 pandemic, the movement of people was restricted during April 2020 and some outlets (stores) and service establishments were closed, which had a direct or indirect impact on household consumption and thus consumer price indices. In May 2020, the measures were gradually released, which enabled partial recovery of consumption in most of the run-down segments and also gradual return of the statistical survey to its standard conditions.

Methodological procedure how to cope with these unexpected fluctuations in the household consumption for the consumer price index (CPI) was based on the existing CPI concept and on a harmonised approach across EU Member States under the current circumstances for the harmonized index of consumer prices (HICP) the methodology of which is decisive also for the national CPI. Basic principles are described in details in methodological note for April 2020


Concrete measures to ensure continuity of time series of selected price indices in May 2020

As for the share in reduction of consumption within the consumer basket, it applied mainly to the following ECOICOP divisions:

Transport (07) – For the price index of air transport, an overall price index of transport services (07.3) was used.

Recreation and culture (09) – For package international holidays (09.602), price index of package domestic holidays (09.601) was used for the necessary imputation of the price index.