10 Great Free Sources on Inflation
Lauren Sneyd, Library Assistant & Information Specialist
This article will highlight 10 great free sources that can help Irish suppliers keep track of inflation and develop strategies to mitigate its effects and build resilience. Curated by Bord Bia’s Librarians, these sources can help you save time and free you up to make more informed decisions on this business critical topic.
Statistics Explained, is an official Eurostat website presenting statistical topics in an easily understandable way. Together, the articles make up an encyclopedia of European statistics for everyone, completed by a statistical glossary clarifying all terms used and by numerous links to further information and the latest data and metadata, a portal for occasional and regular users (Eurostat, 2022).
Euro Area Statistics inflation index consists of four chapters on what inflation is, why we should care about it, inflation across countries and inflation over time in a simple concise way.
Click here to access Euro area’s inflation index.
In response inflation pressures within the industry, the Client Capability Team at Bord Bia has created a series of Cost Inflation webinars, looking at the following sub-topics:
Webinar 1: Procurement in Crisis Mode: Challenges and Choices for PCF Manufacturers
Webinar 2: Negotiation and Cost Inflation
Webinar 3: How Irish Consumers are Navigating the Cost Inflation Crisis
Webinar 4: Pricing Excellence: Managing Unprecedented Inflation through Price Increase Campaigns
Click here to access Bord Bia’s inflation webinar series and further supports.
McKinsey’s latest resources on inflation can be used to help Irish food & drink leaders to look across their organisations for opportunities to mitigate the effects and help build resilience along the value chain.
Click here to access McKinsey’s inflation resources.
IGD (The Institute of Grocery Distribution) deliver free analysis of the latest economic and socio-economic trends, the policy landscape, and its impact on shoppers, to help organisations make sense of the external influences on our industry.
Click here to view the IGD’s economic resources on inflation, including the cost of living crisis and more.
The EU commission conducts economic forecasts and surveys including forecast by countries including challenges of inflation, risks in Europe and key assumptions with an interactive inflation map tracking the global economy.
Click here to access the EU Commission’s executive summary and inflation map for 2022.
The World Bank’s Prospects Group has constructed a global database of inflation. The database covers up to 196 countries and includes six measures of inflation:
- Headline consumer price index (CPI) inflation
- Food CPI inflation
- Energy CPI inflation
- Core CPI inflation
- Producer price index inflation
- Gross domestic product deflation
Click here to access the World Bank’s inflation database.
NielsenIQ uses advanced pricing analytics and international datasets to monitor the effects of global CPG inflation and have produced some great resources such as the inflation glossary, the grocery price tracks and further insights housed on their inflation hub (Nielsen, 2022).
Find, compare and engage with the latest OECD data such as charts, maps, tables and related inflation publications to stay up to date with the latest global trends in consumer goods and services (OECD, 2022).
Click here to access the OECD’s inflation pricing data.
The IMF works to achieve sustainable growth and prosperity for all of its 190 member countries by supporting economic policies that promote financial stability and monetary cooperation. IMF produce working papers, blogs, podcasts and more on the topic of inflation (IMF, 2022).
Click here to access the IMF’s inflation resources.
Stakeholders in the Irish food and drink industry can use these 10 great free sources to keep themselves fully informed about inflationary developments the global industry is facing, both now and into the future. Those who are informed, will be best placed to mitigate challenges and better equipped to understand the implications to their business.
Eurostat. (n.d.). Beginners: Inflation. Retrieved October 25, 2022, from ec.europa.eu website: https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Beginners:Inflation
Euro Area Statistics. (n.d.). Statistics Insights: Inflation. Retrieved October 25, 2022, from www.euro-area-statistics.org website: https://www.euro-area-statistics.org/digital-publication/statistics-insights-inflation/index.html?lang=en
Bord Bia. (2022). Negotiation and Cost Inflation Supports. Retrieved 20 September 2022, from https://www.bordbia.ie/industry/grow-your-business/key-customer-management/negotiation-and-cost-inflation-supports2/
McKinsey. (2022). Retrieved 20 September 2022, from https://www.mckinsey.com/featured-insights/inflation
IGD. (2022). Economic Resources. Retrieved 20 September 2022, from https://www.igd.com/About-us/Media/press-releases-and-blogs
European Commission. (2022). Retrieved 20 September 2022, from https://economy-finance.ec.europa.eu/economic-forecast-and-surveys/economic-forecasts/summer-2022-economic-forecast-russias-war-worsens-outlook_en
A Global Database of Inflation. (2022). Retrieved from World Bank website: https://www.worldbank.org/en/research/brief/inflation-database
Nielsen. (2022). Global Inflation Hub. Retrieved from NielsenIQ website: https://nielseniq.com/global/en/landing-page/global-inflation-hub/
OECD. (2022). Prices - Inflation (CPI) - OECD Data. Retrieved from The OECD website: https://data.oecd.org/price/inflation-cpi.htm
IMF. (2021). Inflation Resources. Retrieved from Office.net website: https://statics.teams.cdn.office.net/evergreen-assets/safelinks/1/atp-safelinks.html