Training Catalog Session 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.

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).