Price Statistics Training (PRS)
Target Audience
Government of Maldives officials (compilers and intensive users) who would benefit from gaining new, or refreshing existing, knowledge of the concepts, principles, sources, and methods used to compile price statistics, such as the consumer price index (CPI) and the producer price index (PPI).
Qualifications
Participants are expected to have a degree in economics or a related field, engage in regular compilation or use of price statistics, and have proficiency in Microsoft EXCEL.
Course Description
This course offers an opportunity to learn the concepts, principles, sources, and methods used to compile price statistics, such as the consumer price index (CPI) and producer price index (PPI). The course covers fundamental features of price indexes, the strengths and weaknesses of common index formulae, the sources and methods used for compiling price index weights, and price indices, including how to handle missing data and link rebased indexes. The course discusses presenting index results and producing narratives of price index developments. Finally, the course will address specific concerns identified with the Maldives’ price statistics.
Participants’ questions/concerns will be invited and discussed throughout.
Course Objectives
Upon completion of this course, participants should understand and work with:
• The fundamental structure of price indices.
• The sources and methods to compile price index weights.
• The basic price index formulae, their biases, and shortcomings.
• The international classification structure for the CPI and PPI.
• The sources and methods for compiling the CPI and PPI, including handling issues such as missing products, product substitution, outlet closure, outlet substitution, quality change, and linking rebased indexes.
• Common tools for interpreting price statistics.
