Proceedings of the 2024 2nd International Conference on Finance, Trade and Business Management (FTBM 2024)

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COVID-19 and its Effect on China’s CPI: Overall and Medical Care

Authors
Tian Zhou1, *
1College of Letters and Science, University of California, Davis, Davis, CA, 95616, United States
*Corresponding author. Email: tnnzhou@ucdavis.edu
Corresponding Author
Tian Zhou
Available Online 27 October 2024.
DOI
10.2991/978-94-6463-546-1_27How to use a DOI?
Keywords
Overall CPI; CPI of Medical Care; COVID-19 epidemic; ARIMA Model
Abstract

Due to the high incidence of infection, COVID-19 epidemic spread widely after its breakout at the close of 2019. China also implemented the policy of containment and isolation. Since then, China’s economic development has be-gun to regress, with an increase in unemployment rate, causing a catastrophic blow to the health and lives of the entire population. In the early stages of the epidemic, there were still many products experiencing abnormal price fluctuations, such as extremely high-priced masks and various medicines. This paper will use ARIMA model to predict the overall CPI and CPI of Medical Care from February to June 2020 without COVID-19; and compare it with CPIs after the out-break of COVID-19 in the actual situation and analyze the reasons. After comparison, it was found that the actual CPI was lower than the predicted CPI. There are two reasons for this situation, which are the composition structure of China’s CPI and the statistical system of CPI. Due to the fact that the top few parts of CPI which have the largest proportion are difficult to operate and generate revenue due to lockdown policies, and abnormal price fluctuations are not included in CPI statistics; therefore, CPI show a downward trend after being affected by the epidemic.

Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2024 2nd International Conference on Finance, Trade and Business Management (FTBM 2024)
Series
Advances in Economics, Business and Management Research
Publication Date
27 October 2024
ISBN
978-94-6463-546-1
ISSN
2352-5428
DOI
10.2991/978-94-6463-546-1_27How to use a DOI?
Copyright
© 2024 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Tian Zhou
PY  - 2024
DA  - 2024/10/27
TI  - COVID-19 and its Effect on China’s CPI: Overall and Medical Care
BT  - Proceedings of the 2024 2nd International Conference on Finance, Trade and Business Management (FTBM 2024)
PB  - Atlantis Press
SP  - 246
EP  - 253
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-546-1_27
DO  - 10.2991/978-94-6463-546-1_27
ID  - Zhou2024
ER  -