Multilateral index number methods for Consumer Price Statistics

Kevin Fox, Peter Levell and Martin O'Connell

Economic Statistics Centre of Excellence (ESCoE) Discussion Papers from Economic Statistics Centre of Excellence (ESCoE)

Abstract: The increasing availability of supermarket scanner data covering expenditures and prices on a wide range of products has created new opportunities for national statistical institutes, including the possibility of publishing more reliable indicators of monthly price changes. We discuss and evaluate the properties of different multilateral index numbers for measuring high frequency price changes, drawing on household scanner data. We find that use of the Caves-Christensen-Diewert-Inklaar (CCDI) index, updated using the mean splice, is to preferred for both theoretical and empirical reasons.

Keywords: consumer price index; multilateral indices; scanner data (search for similar items in EconPapers)
JEL-codes: C43 E31 (search for similar items in EconPapers)
Date: 2022-04
New Economics Papers: this item is included in nep-dem, nep-mac and nep-mon
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://escoe-website.s3.amazonaws.com/wp-content/ ... ESCoE-DP-2022-08.pdf

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nsr:escoed:escoe-dp-2022-08

Access Statistics for this paper

More papers in Economic Statistics Centre of Excellence (ESCoE) Discussion Papers from Economic Statistics Centre of Excellence (ESCoE) King's College London Strand London WC2R 2LS. Contact information at EDIRC.
Bibliographic data for series maintained by ESCoE Centre Manager ().