Detailed Information on Publication Record
2023
Coffee as an Identifier of Inflation in Selected US Agglomerations
VOCHOZKA, Marek, Svatopluk JANEK and Zuzana ROWLANDBasic information
Original name
Coffee as an Identifier of Inflation in Selected US Agglomerations
Authors
VOCHOZKA, Marek (203 Czech Republic, guarantor, belonging to the institution), Svatopluk JANEK (203 Czech Republic, belonging to the institution) and Zuzana ROWLAND (203 Czech Republic, belonging to the institution)
Edition
Forecasting, Švýcarsko, MDPI, 2023, 2571-9394
Other information
Language
English
Type of outcome
Článek v odborném periodiku
Field of Study
50200 5.2 Economics and Business
Country of publisher
Switzerland
Confidentiality degree
není předmětem státního či obchodního tajemství
References:
RIV identification code
RIV/75081431:_____/23:00002546
Organization unit
Institute of Technology and Business in České Budějovice
UT WoS
000955509400001
Keywords in English
coffee price; CPI; time series; Pearson r; SARIMA model
Změněno: 26/4/2023 13:12, Barbora Kroupová
Abstract
V originále
The research goal presented in this paper was to determine the strength of the relationship between the price of coffee traded on ICE Futures US and Consumer Price Indices in the major urban agglomerations of the United States—New York, Chicago, and Los Angeles—and to predict the future development. The results obtained using the Pearson correlation coefficient confirmed a very close direct correlation (r = 0.61 for New York and Chicago; r = 0.57 for Los Angeles) between the price of coffee and inflation. The prediction made using the SARIMA model disrupted the mutual correlation. The price of coffee is likely to anchor at a new level where it will fluctuate; on the other hand, the CPIs showed strong unilateral pro-growth trends. The results could be beneficial for the analysis and creation of policies and further analyses of market structures at the technical level.