Abstract
Our aggregate real energy index is constructed in two steps. First, sectoral energy prices are obtained from Hasanov et al (2020). Second, the index is constructed by calculating a weighted average of these sectoral energy prices, in which the weight for each sector is its contribution to gross domestic product (GDP), which is obtained from GASTAT (2022). The index covers 17 sectors, including the energy end-use sectors (e.g., manufacturing and financial services) and the transformation sectors (e.g., power and refining). The index is adjusted for inflation using the consumer price index (CPI), also obtained from GASTAT (2022) rebased to 2010.
