IMF | STI

Details

Start: 
March 13, 2023

End:
March 17, 2023

Course Number:
ST23.09

Application Deadline

December 19, 2022

Consumer Price Index - Advanced (CPI-A)

March 13 - 17

Target Audience

Compilers of consumer price indexes (CPIs).

Qualifications

Participants are expected to have a degree in economics or statistics; or equivalent experience.

Course Description

This course, presented by the Statistics Department, is intended to broaden participants’ understanding of the concepts and methods of compiling CPIs. It provides an overview of the index number theory and its practical implications in terms of choosing the index number formula at lower and higher levels of aggregation. The course covers the sources and methods for developing weights and sampling areas, items, outlets, and varieties. New and emerging data sources as well as new collection technologies are discussed. Frontier issues including how to better measure the digital economy are included. Linkages to the 2008 SNA are highlighted, including the related principles of scope, coverage, and valuation. The course covers the following topics: calculating elementary and upper-level indexes; methods for handling temporarily and permanently missing prices;  introducing new outlets, items, and varieties; adjusting prices for quality changes; chaining and linking indexes with updated weighting structures; and meeting data users’ needs to ensure relevancy.The course follows the principles and recommendations of the CPI Manual (2020).

Course Objectives

Upon completion of this course, participants should be able to:

• Apply recommended index calculation methods.
• Apply methods for dealing with such index compilation challenges such as unavailable items, quality change, and keeping an index up to date.
• Assess how well a CPI meets international guidelines for best practice.