## Consumer Price Index (CPIx)

## Source details

**Canonical URL:** [Consumer Price Index (CPIx)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ol/2023/cpixol23-125)

## Other formats

- [Markdown version](/en/capacity-development/training/icdtc/schedule/ol/2023/cpixol23-125/index.md)
- [Structured JSON version](/en/capacity-development/training/icdtc/schedule/ol/2023/cpixol23-125/index.json)
- [Bundle manifest](/en/capacity-development/training/icdtc/schedule/ol/2023/cpixol23-125/bundle-manifest.json)

## Bibliographic details
- Session: OL 23.125
- Location: Course conducted online
- Dates: January 1, 2023 - April 15, 2023 (15 weeks)
- Delivery method: Online Training
- Primary language: English
- Status: Deadline passed

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### Overview
- Training program for compilers and users of the consumer price index (CPI) to improve understanding of recommended methods for the compilation and dissemination of reliable inflation data.
- Session No.: OL 23.125
- Deadline passed
- Location: Course conducted online
- Date: January 1, 2023 - April 15, 2023 (15 weeks)
- Delivery Method: Online Training
- Primary Language: English

### Target audience and qualifications
- Target Audience: Compilers and users of the consumer price index (CPI) who can benefit from a better understanding of the recommended methods for the compilation and dissemination of reliable inflation data.
- Qualifications:
  - Participants are expected to have some familiarity with basic statistics.
  - Basic Microsoft Excel skills and access to a computer with a reliable Internet connection and a Google Chrome web browser are essential.

### Course description and rationale
- The consumer price index (CPI) is described as one of the most important macroeconomic indicators produced by a country.
- CPI data are essential inputs for policymakers who require reliable measures of price change to make sound policy decisions.
- Wages, salaries, government payments, pensions, rent, and other payments are indexed to the CPI and require accurate estimates of inflation.
- The course aims to teach key concepts and compilation methods required to compile reliable CPI data using the best available methods.

### Core technical topics covered
- Key concepts and definitions of the consumer price index (CPI) and how these are applied in practice.
- Different index calculation formulas.
- Sampling in a CPI: definition, importance, and practical application of sampling methods.
- Methods for the treatment of missing prices and how these are applied in practice.
- Updating CPI weights and linking old and new indexes to form a continuous time series of data.

### Course objectives (upon completion)
- 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 the different index calculation formulas.
- Define and explain the importance of sampling in a CPI and how 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.
- Show how to update CPI weights and link old and new indexes to form a continuous time series of data.

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## References

- [Online Training](https://www.imf.org/en/capacity-development/training/icdtc/delivery-methods)
- [Core Elements of Banking Supervision (CBS)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/at/2027/cbsat27-10)
- [Advanced Government Finance Statistics (GFS-A)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ce/2026/gfs-ace26-45)
- [Fiscal Sustainability (FS)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ce/2026/fsce26-38)
- [Safeguards Assessments of Central Banks (SAC)](https://www.imf.org/en/capacity-development/training/icdtc/schedule/at/2026/sacat26-30)

_Source: https://www.imf.org/en/capacity-development/training/icdtc/schedule/ol/2023/cpixol23-125_