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CPIx

Consumer Price Index (CPIx)

Apply online by April 1, 2025 Deadline extended

Session No.: OL 24.134

Location: Course conducted online

Date: May 1, 2024 - April 15, 2025 (50 weeks)

Delivery Method: Online Training

Primary Language: English

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    Target Audience

    Compilers of consumer price indexes (CPIs) and users of CPI data interested in understanding key concepts and compilation issues.

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    Qualifications

    Some knowledge of economics and statistics or equivalent experience in CPI is helpful. Access to a computer with a reliable Internet connection and a Google Chrome web browser are essential.

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    Course Description

    This online course, presented by the Statistics Department, introduces participants to key CPI concepts and methods. The course provides an overview of key CPI concepts, definitions, and uses. It provides an overview of different index number formulas and the practical implications of choosing the index number formula at lower and higher levels of aggregation. The course also discusses the sources and methods for sampling areas, items, outlets, and varieties; treatment of temporarily and permanently missing prices; and updating and linking CPI data series. Linkages to the 2008 SNA are highlighted, including the related principles of scope, coverage, and valuation. The course covers the following topics:  defining key concepts and uses of CPI data and how these influence the design of a CPI;  meeting data users' needs to ensure relevancy;  calculating elementary and upper-level indexes;  methods for sampling areas, items, outlets, and varieties;  methods for handling temporarily and permanently missing prices, including adjusting prices for quality changes; and  chaining and linking indexes with updated weighting structures. The course follows the principles and recommendations of the CPI Manual (2020).

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    Course Objectives

    Upon completion of this online course, participants will be able to:

    • Identify key uses of CPI data and explain key consumer price index concepts and definitions and how these are applied in practice.
    • Identify and explain differences between the different index calculation formulas.
    • Define and explain the different levels of sampling in a CPI and how these sampling methods are applied in practice.
    • Identify and explain the different methods for the treatment of missing prices and describe how these are applied in practice.
    • Update CPI weights and link old and new indexes to form continuous time series of data.
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