Research on the Time Series Analysis of Core CPI Index during the COVID-19 Pandemic

Abstract

People's lives have altered in recent years as a result of the COVID-19 outbreak. People have modified their habits to adapt to the world after the pandemic. The inflation rate is a crucial index that represents the stage of lifestyles high-quality of people, as well as a critical index that indicates the developments and changes of economy. Global incidents continually play an necessary position in altering the inflation rate. The COVID-19 pandemic is one of the most influential incidents in people’s each day lifestyles in the previous decades. This paper tries to figure out how the COVID-19 pandemic influences the inflation rate in the United States or people’s expectation on the change of inflation rate.e Apart from that, this paper discusses the several indexes that represent the inflation rate as well. This paper also covers the research of the Core CPI, by using time series analysis with the help of R language and R-studio, and tries to draw conclusion from the analysis and related literature.