The Availability, Methodological Soundness, and Scope of Consumer Price Statistics in 2020

By Vanda Guerreiro, Andrew Baer, Anthony Silungwe

March 18, 2022

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Vanda Guerreiro, Andrew Baer, and Anthony Silungwe. The Availability, Methodological Soundness, and Scope of Consumer Price Statistics in 2020, (USA: International Monetary Fund, 2022) accessed November 21, 2024

Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

This paper analyzes the availability, methodological soundness, and scope of Consumer Price statistics in IMF member and non-member countries in 2020. Consumer price statistics are instrumental in the development of monetary policy and in monitoring economic developments. They also often have administrative uses such as in determine wage increase or seting pension payments. This analysis examines the appropriateness of the current set of global consumer price statistics for current policy development and highlights regions where further development may be required. The analysis is based on the results of a new annual survey of CPI compilation practices in 207 economies as of the end of 2020. The survey was completed by statistical authorities between March 2021 and June 2021. In cases of non-response, IMF staff estimates were used. IMF Staff estimates were based on information taken from the IMF’s Dissemination Standards Bulletin Board (DSBB) and country websites to provide the status of consumer price index compilation practices. These data summarize the following key aspects; i) Production, publication and scope of the Consumer Price Index Program, ii) Data sources, iii) CPI compilation methods and iv) Concepts and classifications.

Subject: Consumer price indexes, Consumer prices, Prices

Keywords: Africa, Central America, Central Asia, Compilation Melhods, Consumer Price Index, Consumer price index compilation practice, Consumer price index program, Consumer price indexes, Consumer price statistic, Consumer prices, CPI compilation method, CPI weight, Global, Index Methodology, Middle East, South Asia

Publication Details

Pages:

22
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2022/053
Stock No:

WPIEA2022053
ISBN:

9798400204814
ISSN:

1018-5941

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