Energy Cost Monitoring

The Energy Cost Monitoring (ECM) provides monthly estimates of RUEC (Real Unit Energy Cost) assessing the impact of energy price shocks on the economic system, with a time lag of about one month. In the ECM, good quality monthly estimates of real and nominal GDP are also provided. These allow for a comprehensive understanding of recent economic growth and energy cost changes. At present, the ECM covers the Japanese economy.
Quarterly estimates for the eight major countries have been available since March 2024. See Multilateral ECM.
(Nomura Lab at Keio Economic Observatory, Keio University, Tokyo)


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