TARGET GROUP | Experienced compilers of Consumer Price Indexes (CPIs), Producer Price Indexes (PPIs), or Export-Import Price Indexes (XMPIs). Participants should have a degree in economics or statistics, or equivalent experience.
DESCRIPTION | This two-week course, presented by the IMF’s 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 relating to 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 outlined, as are related issues of scope, coverage, and valuation principles.
There are sessions on the following topics:
• Methods for handling temporarily and permanently unavailable items
• Undertaking adjustments to prices for quality changes, including new products, establishments, and outlets
• Chaining and linking indexes with updated weighting structures
The course follows the principles and recommended practice given in the CPI (2004), PPI (2004), and XMPI (2009) manuals.
Upon completion of this course, participants should be able to:
• Apply the principles of the price index theory
• Assess how well a price index meets international guidelines for best practice
• Implement methods for dealing with index compilation challenges such as unavailable items, quality change, and keeping an index up to date