Price Statistics (PRS)
Target Audience
Experienced compilers of consumer price indexes (CPIs), producer price indexes (PPIs), or export-import price indexes (XMPIs).
Qualifications
Participants should have a degree in economics or statistics or equivalent experience.
Course Description
This course, presented by the IMF Statistics Department, is intended to broaden participants’ understanding of the theory and practice of compiling CPIs, PPIs, and XMPIs. It covers the index number theory and its practical implications in terms of the choice of the index number formula at lower and higher levels of aggregation. The course also covers methods for sampling and collecting data from retail outlets and enterprises. The role of price indexes as deflators in the 2008 SNA is analyzed, as are related principles of scope, coverage, and valuation. There are sessions on the following topics: methods for handling temporarily and permanently unavailable items; adjusting prices for quality changes, including new products, establishments, and outlets; and chaining and linking indexes with updated weighting structures.The course 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.
