Price Statistics (PRS)
Target Audience
Government of India 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 should have a degree in economics or statistics or equivalent experience.
Course Description
This workshop, presented by the IMF Statistics Department, offers an opportunity to learn the concepts, principles, sources, methods, and general framework used to compile the CPI, PPI, and other price indices. Will cover fundamental elements of price index compilation that follow best practice presented in international manuals. Coverage will include: defining the scope (or universe) of an index; stratifying an index’s universe with an appropriate classification scheme; developing samples for the strata; compiling appropriate weights; designing and deploying pricing surveys; compiling indices with the best index formulas; publishing indices and metadata; and keeping all of these elements up to date.
The workshop follows the principles and recommended practices in the CPI (2004), PPI (2004), and XMPI (2009) manuals.
Course Objectives
Upon completion of this course, participants should be able to:
• Apply the principles of price index theory.
• Assess how well a price index meets international guidelines for best practice.
• Apply methods for dealing with such index compilation challenges as unavailable items, quality change, and keeping an index up to date.
