Consumer Price Index (CPIx)

Source details

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

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.

Introduces participants to key CPI concepts and methods.
Provides an overview of key CPI concepts, definitions, and uses.
Explains different index number formulas and the practical implications of choosing the index number formula at lower and higher levels of aggregation.
Discusses sources and methods for sampling areas, items, outlets, and varieties.
Covers treatment of temporarily and permanently missing prices.
Explains updating and linking CPI data series.
Highlights linkages to the 2008 SNA, including the related principles of scope, coverage, and valuation.
Follows the principles and recommendations of the CPI Manual (2020).

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.
Chaining and linking indexes with updated weighting structures.

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.