Fig. 3

Daily price indexes in 2020. The upper panel in this figure shows the Fisher price index based on daily online prices and daily credit card expenditures (blue solid line; 7-day lagged moving average) and the official monthly CPI (red dashed line) around the lockdown and reopening period. The lower panel shows the Fisher (blue), Laspeyres (red), and Paasche (gray) indexes during the lockdown and reopening periods together with the official monthly CPI (red dashed line). The vertical lines indicate the dates of the lockdown (March 16, 2020) and the two phases of reopening (April 27, 2020, and May 11, 2020). The figure spans the period May 1, 2019, to July 23, 2020