{
  "title": "Price Statistics Compilation in 196 Economies: The Relevance for Policy Analysis",
  "publication": "IMF Working Papers, July 26, 2019",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2019/07/26/price-statistics-compilation-in-196-economies-the-relevance-for-policy-analysis-48517",
  "canonical": "https://www.imf.org/en/publications/wp/issues/2019/07/26/price-statistics-compilation-in-196-economies-the-relevance-for-policy-analysis-48517",
  "overlayPath": "/en/publications/wp/issues/2019/07/26/price-statistics-compilation-in-196-economies-the-relevance-for-policy-analysis-48517/index.md",
  "summary": "The consumer price index (CPI) is a key economic indicator used to gauge inflation, adjust wages, pensions, and social benefits. The producer prices index (PPI) is used for forecasting and deflating GDP estimates.",
  "sections": [
    {
      "heading": "Purpose and scope",
      "content": "- The consumer price index (CPI) is used to gauge inflation, adjust wages, pensions, and social benefits.\n- The producer prices index (PPI) is used for forecasting and deflating GDP estimates.\n- Both indexes are used by the Fund, policymakers, and researchers for global, regional, and domestic surveillance.\n- The paper evaluates index soundness by assessing four criteria: frequency of updating the weights, the index coverage, timeliness, and the use of international classifications.\n- The study also discusses online and scanner data as frontier issues."
    },
    {
      "heading": "Methodology criteria assessed",
      "content": "- Frequency of updating the weights.\n- Index coverage.\n- Timeliness.\n- Use of international classifications.\n- Consideration of online and scanner data."
    },
    {
      "heading": "Key findings — CPI",
      "content": "- CPI is universally and frequently compiled.\n- CPI is timely and fairly-well aligned with international standards.\n- Weights used to compile the CPI are updated in only 45 percent of economies.\n- CPI weights have national coverage in 76 percent of economies.\n- Outdated weights negatively impact the reliability of the CPI for policy analysis.\n- Frequently updated weights and well-represented coverage mitigate biases and help ensure the CPI properly measures price evolution."
    },
    {
      "heading": "Key findings — PPI",
      "content": "- PPIs are compiled by only 126 economies.\n- PPIs are timely, but there is room for improvement.\n- Only 36 percent of economies have updated PPI weights.\n- Approximately 67 percent of economies maintain the recommended PPI coverage.\n- Outdated PPI weights reduce the reliability of PPIs for policy analysis."
    },
    {
      "heading": "Implications for policy analysis",
      "content": "- Outdated weights and incomplete coverage can bias CPI and PPI measures and weaken their usefulness for inflation measurement, wage/pension adjustments, forecasting, and GDP deflation.\n- Regularly updating weights and ensuring national-level coverage are central to improving index reliability for policy decisions.\n- Adoption of international classifications and exploration of online and scanner data can strengthen price statistics compilation.\n\n---\n\n Content in this bundle\n\n- Working Paper\n  - Working Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Working Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2019/07/26/price-statistics-compilation-in-196-economies-the-relevance-for-policy-analysis-48517"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/wp/issues/2019/07/26/price-statistics-compilation-in-196-economies-the-relevance-for-policy-analysis-48517/index.md)",
    "[Structured JSON version](/en/publications/wp/issues/2019/07/26/price-statistics-compilation-in-196-economies-the-relevance-for-policy-analysis-48517/index.json)",
    "[Bundle manifest](/en/publications/wp/issues/2019/07/26/price-statistics-compilation-in-196-economies-the-relevance-for-policy-analysis-48517/bundle-manifest.json)",
    "Authors: Francien Berry, Brian Graf, Michael Stanger, Mari Ylä-Jarkko",
    "Published: July 26, 2019",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781513508313.001",
    "The consumer price index (CPI) is used to gauge inflation, adjust wages, pensions, and social benefits.",
    "The producer prices index (PPI) is used for forecasting and deflating GDP estimates.",
    "Both indexes are used by the Fund, policymakers, and researchers for global, regional, and domestic surveillance.",
    "The paper evaluates index soundness by assessing four criteria: frequency of updating the weights, the index coverage, timeliness, and the use of international classifications.",
    "The study also discusses online and scanner data as frontier issues.",
    "Frequency of updating the weights.",
    "Index coverage.",
    "Timeliness.",
    "Use of international classifications.",
    "Consideration of online and scanner data.",
    "CPI is universally and frequently compiled.",
    "CPI is timely and fairly-well aligned with international standards.",
    "Weights used to compile the CPI are updated in only 45 percent of economies.",
    "CPI weights have national coverage in 76 percent of economies.",
    "Outdated weights negatively impact the reliability of the CPI for policy analysis.",
    "Frequently updated weights and well-represented coverage mitigate biases and help ensure the CPI properly measures price evolution.",
    "PPIs are compiled by only 126 economies.",
    "PPIs are timely, but there is room for improvement.",
    "Only 36 percent of economies have updated PPI weights.",
    "Approximately 67 percent of economies maintain the recommended PPI coverage.",
    "Outdated PPI weights reduce the reliability of PPIs for policy analysis.",
    "Outdated weights and incomplete coverage can bias CPI and PPI measures and weaken their usefulness for inflation measurement, wage/pension adjustments, forecasting, and GDP deflation.",
    "Regularly updating weights and ensuring national-level coverage are central to improving index reliability for policy decisions.",
    "Adoption of international classifications and exploration of online and scanner data can strengthen price statistics compilation.",
    "**Working Paper**"
  ],
  "related": [
    {
      "title": "Working Paper",
      "role": "paper",
      "sourceUrl": "https://www.imf.org/-/media/files/publications/wp/2019/wpiea2019163-print-pdf.pdf",
      "summary": {
        "path": "/-/media/files/publications/wp/2019/wpiea2019163-print-pdf.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/files/publications/wp/2019/wpiea2019163-print-pdf.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/wp/issues/2019/07/26/price-statistics-compilation-in-196-economies-the-relevance-for-policy-analysis-48517/index.md",
    "json": "/en/publications/wp/issues/2019/07/26/price-statistics-compilation-in-196-economies-the-relevance-for-policy-analysis-48517/index.json",
    "bundleManifest": "/en/publications/wp/issues/2019/07/26/price-statistics-compilation-in-196-economies-the-relevance-for-policy-analysis-48517/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-18T15:35:04.534Z"
}