Analysis of the Modern Methodology of Calculating Consumer Price Index in the Russian Federation and the Perspectives of Its Digital Economy’s Sustainable Development

Abstract

Purpose This chapter aims at performing an analysis of the modern methodology of calculating consumer price index in the Russian Federation and determining the perspectives of managing this factor for sustainable development of its digital economy. Design/methodology/approach The authors analyze the dynamics of consumer price indices in the Russian Federation in 2013–2018 and the forecast for 2019. At the current level of the digital economy’s development, sustainability of its development should be treated as stability of its growth and should be calculated with the help of the country’s position in the World Digital Competitiveness Ranking. Analysis of the influence of the factor of growth of consumer price index on sustainability of the digital economy’s development is performed. Regression analysis is used to compile a model of multiple linear regression dependence of the position of the Russian Federation in the World Digital Competitiveness Ranking in 2013–2019 on the values of consumer price indices. Findings The research results show that consumer price indices in the Russian Federation largely determine (correlation—83.88%) sustainability of the digital economy’s development. In order to ensure sustainable the digital economy’s development in the Russian Federation, it is necessary to reduce consumer price index for services. Originality/value It is determined that reduction of this index by 5.29%, as compared to 2019 (to 100.9%), will allow Russia reaching 35th position in the World Digital Competitiveness Ranking in 2020 (as compared to 38th position in 2019). In the conditions of the 2020 crisis, in order to support sustainability of the digital economy in the Russian Federation, it is possible to allow consumer price indices for commodities to grow, but the services’ index should be kept at the 2019 level.