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Recent Progress in Data Engineering and Internet Technology

Volume 157 of the series Lecture Notes in Electrical Engineering pp 269-274

A Study on Correlation between Web Search Data and CPI

  • Chong ZhangAffiliated withManagement School, Graduate University of Chinese Academy of Sciences Email author 
  • , Benfu LvAffiliated withManagement School, Graduate University of Chinese Academy of Sciences
  • , Geng PengAffiliated withManagement School, Graduate University of Chinese Academy of Sciences
  • , Ying LiuAffiliated withManagement School, Graduate University of Chinese Academy of Sciences
  • , Qingyu YuanAffiliated withManagement School, Graduate University of Chinese Academy of Sciences

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Abstract

The web search data, which recorded hundreds of Millions of searchers concerns and interests, reflected the trends of their behavior and provided essential data basis for the study of macro-economic issues. This paper established a concept frame based on commodity market and equilibrium price theory, revealed a certain correlation and lead-lag relationship between web search data and consumer price index (CPI). Empirical results indicated that there is a co-integration relationship between web search data and CPI. The model was able to obtain a good fit with CPI. Model fitting is 0.978.