Moscow, June 9 - “Vesti. Economy". UBS experts compiled their annual Prices and Earnings report, which includes 77 cities around the world. The experts analyzed average earnings in each city, as well as the cost of the average shopping cart in each city. After that, they compared these two indicators and calculated the purchasing power index in each city. Simply put, this is the ratio of earnings to prices. The higher the city is ranked, the more people can afford for their salaries. Moscow with an index of 33.6 was in 59th place in the rating. Below we will highlight the top 10 cities with the highest purchasing power index in the world. 10. New York

Purchasing power index: 100.0 New York is becoming a starting point in the ranking year after year, a yardstick for comparison. The index of New York is taken as 100, and based on the comparison with this city, the indices of other cities are determined. New York is an important world financial, political, economic and cultural center. Its index does not change, as it is taken as a basis for other cities. 9. Hong Kong

Purchasing power index: 100.3 Hong Kong is an important center international finance and trade, and the concentration of headquarters is the highest in the Asia-Pacific region. In terms of per capita gross domestic product and gross urban product, Hong Kong is the richest city in China. 8. Manama

Purchasing power index: 100.6 Manama is the capital and main economic center of the Kingdom of Bahrain. The basis of the economy of Manama - like the whole of Bahrain - are financial market, construction of coasters - dhows, fishing and pearling. 7. Toronto

Purchasing Power Index: 101.5 Toronto is part of the "golden horseshoe" - a densely populated region around the western part of Lake Ontario with a population of about 7 million people. Approximately one third of Canada's population lives within a 500 km radius of Toronto. About a sixth of all Canada's jobs are within city limits. The city of Toronto is also known as the "economic engine" of Canada, is considered one of the leading metropolitan areas in the world and has a lot of weight both in the region and at the state and international level. 6. Chicago

Purchasing Power Index: 105.8 Chicago is rightfully considered the economic, industrial, transportation and cultural capital of the Midwest. One of the 12 Federal Reserve Banks is located in Chicago. major exchanges Chicago Board of Trade and Chicago commodity exchange, united in CME Group, Chicago Board Options Exchange, Chicago stock Exchange, OneChicago. The Chicago Loop is the business center of Chicago, the second largest in the United States after Manhattan. It houses stock exchanges, the headquarters of such well-known companies as United Airlines, Boeing and others. 5. Luxembourg

Purchasing power index: 117.3 Luxembourg is a highly developed industrial country, one of the most prosperous countries in Europe, a major international financial and tourist center. The structure of GDP is dominated by services, finance and trade. These industries employ about 50% of the economically active population. 4. Geneva

Purchasing power index: 118.0 The city hosts the headquarters of numerous international organizations, including the European branch of the United Nations, the Red Cross, WTO, WHO, CERN. Geneva is also a world financial center. The Large Hadron Collider is located near the city. The Geneva economy is mainly service-oriented. The city is an important and oldest center financial services, which specializes primarily in private banking, as well as in financing and international trade. 3. Miami

Purchasing Power Index: 121.7 Miami is one of the most important financial centers in the US. It is a major center for commerce, finance and large multinational business groups. Tourism is also an important part of Miami's economy. The combination of financial and business institutions, beaches, conferences, festivals and events attracts more than 38 million visitors to the city. 2. Zurich

Purchasing Power Index: 122.5 Zurich is often referred to as the economic and financial capital of Switzerland. Zurich is home to the headquarters of many Swiss banks and insurance companies (UBS, Credit Suisse, Swiss Re, Zurich Financial Services) and the Swiss Stock Exchange. All this makes Zurich one of the world's major financial centers. The city is home to the headquarters of Barry Callebaut, one of the world's leading chocolate producers. 1. Los Angeles

Purchasing power index: 123.9 Los Angeles is one of the world's largest cultural, scientific, economic and educational centers. Also, the city is one of the world's largest entertainment centers in the field of cinema, theater, music, literature and television.

In the conditions of market relations in the economy, a special place among the indices of qualitative indicators is given to the price index. With the help of the price index, assessment of price dynamics for industrial and non-industrial consumption goods, recalculation of the most important cost indicators SNA from actual prices to comparable prices. Price index is common inflation meter in macroeconomic studies, is used when adjusting the legislatively established minimum size wages, setting tax rates, etc.

To characterize the dynamics of prices at the consumer level, a consolidated consumer price index(CPI), which reflects the dynamics of final consumption prices. He measures general change the cost of a fixed set of consumer goods and services, called the "consumer basket". The set of goods and services developed for price monitoring includes representative goods and services for mass consumer demand, as well as individual goods and services for non-mandatory use ( cars, gold jewelry, car maintenance, etc.). The selection of positions was made taking into account their relative importance for consumption by the population, representativeness in terms of reflecting the dynamics of prices for homogeneous goods, and their stable availability on sale.

In the conditions of the federal structure of Russia, monitoring of changes in prices (tariffs) is carried out on the territory of all subjects Russian Federation.

Supervision is carried out at trade and service enterprises of all types of ownership and types of trade (state, municipal, cooperative, joint-stock, rental, private, commercial) and markets.

In conditions of unstable economic development, when calculating the CPI with a monthly interval, the set of the consumer basket changes annually. In 1999, the consumer bundle included 414 goods and services: 104 items were food products, 225 were non-food products, and 85 were paid services.

Along with the monthly registration of prices for complete list goods and services, weekly registration of prices and tariffs for goods and services included in the required social package is carried out, and its estimated cost is monitored (37 items in total). In addition, the cost of a set of 25 most important food products is calculated on a weekly basis, corresponding to the consumption standards developed by the Institute of Nutrition of the Russian Academy of Medical Sciences together with the Institute of Socio-Economic Problems of Population of the Russian Academy of Sciences and the Ministry of Labor of Russia.

Consumer price index characterizes the change in time of the general level of prices for goods and services purchased by the population for non-productive consumption. It measures the ratio of the value of an actual fixed set of goods and services in the current period to its value in the previous (base) period:

The calculation of the consumer price index is carried out:

To the previous month (or period);

By December of the previous year (or quarter);

To the corresponding month (or period) of the previous year, for example, January 1999 to January 1998

The consumer price index is one of key indicators, characterizing the level of inflation, and is used to implement the state financial policy, analyze and forecast price processes in the economy, regulate the real exchange rate national currency, revision of minimum social guarantees, resolution of legal disputes.

The urgent need to determine the national inflation rate has become a key factor in the development of the provisional CPI for Russia. The requirements of the international methodology imply the use of the Laspeyres formula for these purposes, and not the Paasche formula. For the current situation in Russia, the most flexible is the application in the operational mode of the following version of the Laspeyres formula:

The CPI is calculated on a weekly, monthly, quarterly basis, as well as on an accrual basis for the period from the beginning of the year.

Calculation for the month, quarter, period from the beginning of the year is made chipped method, those. by multiplying weekly (monthly, quarterly) consumer price indices.

The chain process used facilitates the introduction of new products or their replacement when the need arises. It reflects price changes well "from the point of view of the consumer".

The consolidated CPI is calculated at the federal level for the entire population. In addition, since 1994 CPI calculations have been organized by groups of the population (“workers and employees”, “pensioners”). At the same time, the possibility of carrying out experimental calculations of price indices for population groups with different income levels is being considered.

The methodology for calculating the CPI involves calculating the index for individual regions, product groups and services.

Due to shortcomings in pricing due to the liberalization of prices, their rapid growth, privatization of trade, the creation of new private outlets, the emergence of a significant number of informal or, as they are called, “black” markets, it is necessary to change the CPI calculation methodology more flexibly and more quickly. The Laspeyres Composite Index tends to overestimate inflation as consumers replace expensive goods with cheap ones during periods when prices rise, so the Laspeyres index should be used with caution in a high inflation environment.

As information becomes available on the structure of consumer spending in the current period, the statistical authorities of Russia have the opportunity to make retrospective calculations of the CPI also using the Paasche formula.

Rosstat is interested in creating an independent consumer price index corresponding to international standards. Therefore, the methodology for calculating the CPI in Russia is constantly being improved. The values ​​of consumer price indices calculated by years and months are published in official publications. For example, the consumer price index of the Russian Federation:

2000	2001	2002	2003	2004	2005
20,2	18,6	15,1	12,0	11,7	15,2

Source: Russia in numbers. 2006: Brief stat. Sat/Rosstat. M., 2006. S. 397.

The consumer price index is a kind of barometer of the country's standard of living, the well-being of every family, every person. It is traditionally called cost of living index. The CPI basket of goods and services is fixed so that the same index value corresponds to a given standard of living. With this approach, changes in the index can only be caused by changes in prices, and not by changes in the structure of consumption as a result of changes in income or the introduction of new products.

The consumer price index is taken as deflator index when finding real money income, real wages based on their nominal values:

Along with the calculation of the CPI, there is a need to calculate producer price index industrial, agricultural, construction and other products. These indices can be used as one of the main indicators of inflation processes in the manufacturing sector. Producer price indices are formed on the basis of changes in the prices of these enterprises. Observation of changes in producer prices is carried out on a sample network basic enterprises various forms of ownership and organizational and legal forms.

Producer price indices industrial products characterize the dynamics of prices of enterprises - manufacturers of industrial products. The calculation of these indices is carried out on a set of goods - representatives of industrial products, which includes the most important types of products of individual industries, which occupy the largest share in the output of marketable products in this industry.

The sum of the cost of representative goods is at least half of the marketable output of each of the industries and sub-sectors, which ensures the representativeness of the calculated indices.

Inflation reduces the purchasing power of money.

Purchasing power of money – the number of goods and services that can be purchased for one monetary unit (in our country - for 1 ruble) at a given level of prices and tariffs.

Purchasing power of the ruble is defined as an index inverse to the index of prices and tariffs for services:

The purchasing power index of the ruble is used to measure inflation: it shows how many times money has depreciated.

Thus, if in 2005 the consumer price index (tariffs) for goods and paid services to the population of Russia amounted to 115.2%, i.e. prices increased by 15.2%, the purchasing power of the ruble in 2005 decreased by 13%:

I p.s.r = 1: 1.152 = 0.87;

(1 – 0,86) ∙ 100 = 13%.

It is possible to increase and strengthen the purchasing power of the ruble only on the basis of establishing the right balance between supply and demand. To ensure these conditions, it is necessary to stabilize the economy and make it efficient.

inflation statistics

Inflation– depreciation paper money and non-cash Money accompanied by rising prices on goods and services in the economy, associated with the disruption of the functioning of the monetary and financial system countries. Inflation is a category denoting a decrease in the purchasing power of money. It manifests itself:

In the depreciation of money in relation to commodities, gold, foreign currencies;

Rising commodity prices;

Increase in the market price of gold;

Depreciation of the national currency in relation to foreign monetary units.

Inflation is an inevitable companion market economy any country.

The main causes of inflation:

Disproportion in the structure of production, excessive specific gravity means of production;

deficit state budget;

Height public debt;

Swelling of the volume of long-term capital investments, including through credit.

All the variety of reasons is reduced to two main approaches: monetarist (monetary) and non-monetarist.

According to monetarist approach the cause of inflation lies in the more rapid increase in the money supply compared to the growth in the volume of real product. An excess of money leads to their depreciation and, as a result, an increase in prices. Thus, inflation is predetermined by the rate of price growth.

Price growth rate (inflation rate) calculated by the formula:

However quantitative theory money as the main method of ensuring inflation is subject to serious criticism. So, not any rise in prices can be identified with inflation. The fact is that, firstly, the yen can rise as a result of rising production costs, and this is a natural process if it is associated with a deterioration in the conditions for the extraction of natural raw materials. This increase in prices cannot be called inflation. Secondly, the rise in prices may be associated with an increase in the quality of goods, the release of new goods that correspond to modern fashion, etc. In this case, too, one cannot speak of inflation.

The rise in prices caused by inflation has other causes and features. Its external manifestations are:

Mass character, i.e. increase in prices for almost all goods;

Continuity of price increase;

duration of their growth.

In practice, it is quite difficult to distinguish between inflationary and non-inflationary price increases. This is one of the difficulties economic analysis inflation.

When considering the nature of inflation, open and suppressed inflation are distinguished.

– open inflation manifests itself in various forms:

Demand inflation;

Inflation of production costs;

structural inflation.

Some supporters non-monetarist (Keynesian) theory believe that inflation is generated by an excess of aggregate demand, which, for one reason or another, does not keep pace with production (demand inflation); others attribute inflation to rising production costs (cost inflation), which leads to a different rise in prices in the consumer market, an increase in wages.

Structural inflation characterized by macroeconomic intersectoral imbalance (during periods of a radical transition of the country to new economic conditions, conversion of military production, etc.).

– repressed inflation characteristic of an administrative economy with regulated prices, it manifests itself in a shortage of goods, the collapse consumer market, the development of barter transactions, an excess of money supply on hand, etc. With the liberalization of prices, inflation goes into an open form (since January 1992), characterized by a continuous rise in prices for goods and services.

inflation rate statistics measures using a system of price indices, the most important components of which are GDP deflator index, and to measure the inflation of consumer goods and services purchased by the end customer, - consumer price index(CPI).

The main indicator of inflation dynamics is inflation rate:

The rate of inflation shows how many percent the inflation rate has changed over a given period of time.

It is generally accepted that if the monthly rate of inflation is less than 10%, then there is "creeping" inflation (typical for industrialized countries), and if 10-99% - then "galloping" inflation (typical for developing countries and countries with economies in transition). In the case of 50% inflation per month, the economy is “sick” with hyperinflation.

Thus, as a result of price liberalization, a hyperinflationary "explosion" was observed in Russia in 1992.

In addition to the main (generalizing) indicators of inflation, statistics calculates indicators that characterize inflation rate in certain sectors of the economy etc. (producer price index, wholesale price index for individual goods, final and intermediate products, raw materials and materials).

inflation leads to devaluation currency unit of the country, i.e. to the depreciation of its exchange rate against the currencies of other countries, carried out by law.

One of the indicators of inflation is the index of the official exchange rate of the ruble against the US dollar. The dynamics of the official US dollar exchange rate set by the Central Bank of the Russian Federation is shown in Table. 21.1.

This is one of the important economic indicators. And it is inversely proportional to the amount of money that is needed to buy goods and services from the consumer basket. That is, purchasing power shows how much consumers can buy at the prices set by the manufacturer in a given period of time.

Purchasing power parity is the ratio of several different currencies, monetary units different countries. Parity is established in relation to purchasing power to the same set of consumer baskets. For example: if the same set of products costs 225 hryvnias in Ukraine and 80 dollars in the US, then the purchasing power parity will be 225/8=2.9 hryvnias per 1 dollar. This installation principle exchange rate was developed in the 20s of the 19th century. According to this concept, if the exchange rate has changed, then the prices of goods should change in the same ratio. It is possible to determine the exchange rate using purchasing power parity only conditionally, because in reality there are many more factors that can affect the exchange rate.

The purchasing power of the population or, in other words, solvency shows how many goods and services the population is able to purchase for the money they have, while taking into account the existing price level. That is, the purchasing power of the population directly depends on the part of the income that people are willing and able to allocate for purchases.

Purchasing power index

To reflect changes in the volume of goods and services that the population can purchase for the same amount in the current and studied years, the purchasing power index is used. This indicator reflects the ratio of the nominal and real wages of the population. The purchasing power index is the reciprocal of the price index for goods or tariffs.

In order to determine the purchasing power of money, the formula is used: PSD = 1 / Ic, where PSD is the purchasing power of money; Iц - price index.

Thanks to the calculations according to the presented formula, the determination of purchasing power is reduced to simple actions. It can be seen from the formula that it directly depends on the well-being of an individual, and therefore reflects the well-being of all the people in the state. With the growth of purchasing power in the country, there is a wave of shortages, so producers must increase production volumes or raise prices to balance.

The decrease in the purchasing power of the monetary unit has an extremely negative effect on the country's economy in general, and then on the world economy as a whole. This happens because such a decrease will inevitably lead to inflation. And in the future and complete depreciation of the currency. So, for example, if this happens to the dollar, which is the global currency, then world economy will suffer greatly. There will be a decrease in the purchasing power of the unit due to an increase in prices, because then the consumer can buy fewer goods for the same monetary unit.

Every year in developed countries research is being carried out to determine the statistics of inflation and prices, this is done in order to be able to respond in time and correctly to possible critical situations. When citing price statistics, an indicator of the purchasing power of money is necessarily used.

Taxes and inflation

5.2 inflation. IN the methods of growth discussed above are allMonetary values ​​were measured at face value. In other words, nottook into account the decline in real purchasing power the ability of money for the period covered by the transaction. OneHowever, in modern conditions, inflation in monetary relations plays a significant role, and without taking it into account, the final results often represent a conditional value.

Inflation must be taken into account in at least twocases: when calculating the accumulated amount of money and when measuring real efficiency (profitability) of a financial transaction.Let's dwell on these problems.

Let us introduce the notation:

S - the accumulated amount of money, measured at face value,

C – the accrued amount, taking into account its impairment,

Jp– price index,

Jc- an index characterizing the change in the purchasing power of money over a period.

It's obvious that

Purchasing power index of money , as is known,reciprocal of the price index - the higher the price, the lower the purchasing power:

These indices, of course, should refer to the same time intervals. Let, for example, 150 thousand rubles have been received today. It is known that over the past two years prices increased by 1.5 times (or an increase of 50%),Jp = 1,5, the purchasing power index of money is 1/1.5. Sledova Therefore, the real purchasing power is 150 thousand rubles. will be 150 / 1.5 \u003d 100 thousand rubles. in money with purchasing power property two years ago.

It is not difficult to link the price index and the inflation rate. Under pace inflationh understood relative increase in prices for the period; it is usually measured as a percentage and is defined as

In its turn

For example, if the inflation rate for the period is 30%, then this ismeans that prices have increased by 1.3 times.

Inflation is a chain process. Therefore, the price index for several periods is work chain in price dexes:

(5.4)

where h t is the rate of inflation in the period t .

· Example 5.2

Now let's talk about the future. If h - constant the expected (or predicted) inflation rate for onerhyod, then for P such periods we get

(5.5)

The grossest mistake, which, unfortunately, occurs inRussian practice is the summation (!) of the rates ofinflation of individual periods to obtain a generalized inflation indicator for the entire period. Which, we note, is important forlowers the value of the resulting indicator.

Let us return to the problem of the depreciation of money when it grows.If the accumulation is made at a simple rate, then the accumulationthe total amount, taking into account the purchasing power, is equal to

(5.6)

As you can see, the increase in the accrued amount, taking into account itsinflationary depreciation occurs only when 1 + ni > Jp

· Example 5.3

Let us now turn to compound interest. Onthe increased amount, taking into account inflationary depreciation, is found as

(5.7)

The quantities to be multiplied R in formulas (5.6) and (5.7), are the multipliers of the increase, taking into accountthe expected rate of inflation. Let's now see how jointly affect compound ratei and inflation rate h on the value this multiplier. Obviously, if the average annual rateinflation is equal to the interest rate, interest rate, then the growth of the real sumwill not happen - the buildup will be absorbed by inflation, and,hence, C = R. If h/100 > i, then there is an “erosion” of capital - its real amount will be less than the original mooring. Only in a situation where h /100< i, real happensny growth, real accumulation. It's obvious thatwhen calculating simple interest, the rate that compensatesinfluence of inflation, corresponds to the value

A rate exceeding the critical valuei' (when accrued compound interesti' = h ), called positive interest rate.

The owners of money, of course, cannot accept theirinflationary depreciation and undertake varioustorture compensation losses. The most common is there is an adjustment of the interest rate at which the accumulation is made, i.e. increase in the rate by the amount of the so-calledinflation premium. The final value can be called brutus then-rate.(In Western financial literature, such a ratesometimes referred to as nominal.However, this term is already yat.”

Let us define the gross rate (denoted as r ) provided full compensation for inflation. When growing along a complex interest rate we find the gross rate from equality

Where

(5.8)

In practice, the inflation-adjusted rate is often calculated more simply, namely:

(5.9)

· Example 5.4

In the case when the value of the inflation index for the entire term of the loan is applied, the interest rate that takes into account inflation is determined by the formula

· Example 5.5

When accruing by simple interest to simple interest, we have

Where Jp - price index for the period under review.

· Example 5.6

Obviously, at high inflation rates, the adjustmentka rate only makes sense for short or last resorttea medium-term operations.

Another way to compensate for losses from a decrease in the purchasing power of money is the index of the initial amount. In this case, the amount P

A typical index of quality indicators is the index of the physical volume of production. The difficulty in constructing this index lies in the fact that the volumes of different types of products and goods in physical terms are incommensurable and cannot be directly summed up. This requires the use of special techniques of the index method.

The unity of different types of products or different commodities is that they are products social labor, have a certain value and its monetary commensurate - the price (). Each product also has a cost () and labor (). These qualitative indicators can be used as a general measure - the coefficient of comparison of heterogeneous products. By multiplying the volume of production of each type by the corresponding price, cost, labor intensity of a unit of production, comparable indicators are obtained that can be summarized.

Comparison coefficients provide quantitative comparability, allow to take into account the "weight" of the product in the real economic process. Therefore, their indicators - factors associated with indexed values, are usually called index weights, and multiplying by them weighing.

The cost of production is the product of the quantity of production in physical terms by the price of a unit of production.

§ The ratio of the value of products of the current period at current prices to the value of products of the base period at basic prices is aggregate production cost index or trade turnover:

This index shows how many times the cost of production (trade) has increased (decreased) reporting period compared with the base, or how many percent is the increase (decrease) in the cost of production.

If 100% (-100) is subtracted from the value of the cost index, then the difference will show by how many percent the cost of products increased (decreased) in the reporting period compared to the base one.

The difference between the numerator and denominator of the formula: shows how many monetary units (rubles) increased (decreased) the cost of production (trade) in the current period compared to the base one.

§ If the products (goods) of the compared periods are evaluated at the same, for example, basic prices (), then such an index will reflect the change in only one factor - the indexed indicator and will be aggregate index of the physical volume of production:

where and - products in physical terms in the reporting and base periods, respectively,

The basic (fixed) price of a unit of goods.

The index of the physical volume of production shows how many times the physical volume of production has increased (decreased) or how many percent is its growth (decrease) in the reporting period compared to the base period.

The absolute change in the physical volume of production is calculated as the difference between the numerator and denominator of the formula: .

Economically, this difference shows how many monetary units (rubles) the cost of production has changed as a result of an increase (decrease) in its physical (i.e., natural) volume, i.e. the number of goods sold. Changes in product prices in the current period compared to the base period do not affect the index value.

Expressing the production of the base period as , we make a change in the denominator of the aggregate form. As a result, we obtain the total index of physical volume in the form average harmonic weighted index of the physical volume of production, where the weights are the cost of products of the reporting period in basic (or comparable) prices ():

§ The aggregate price index with reporting weights was first proposed in 1874 by the German economist G. Paasche and bears his name.

Paasche aggregate price index formula:

And we substitute it into the denominator of the aggregate formula, we get average harmonic price index, which is identical to the Paasche formula:

.

§ Purchasing power of the ruble is defined as an index inverse to the index of prices and tariffs for services:

The purchasing power index of the ruble is used to measure inflation: it shows how many times money has depreciated.