The CEFIS Food Price Indices are a result of an extensive data collection process, where we gather daily food price data from five major online retail chains in Turkey. This process, which has been ongoing since July 2018, allows us to extract a vast amount of price data each day. We follow the procedure established by the Turkish Statistical Institute (TurkStat), classifying the prices into one of the 131 food and non-alcoholic beverages subcategory provided by TurkStat. For each subcategory, we take the geometric average of all prices in that subcategory each day. After obtaining geometric prices, we index all subcategories using the base period January 2020 = 100. In cases where we were unable to collect data, we use linear interpolation to estimate the values of missing observations. After forming 132 daily food subindexes, we multiply the subindex weights used by TurkStat by our daily subindex values to obtain our daily main food index. For more information on our methodology, please see our methodology paper.
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CEFIS Food Indices