CASE CPI - Measuring Consumer Inflation in the Internet

CASE CPI - Measuring Consumer Inflation in the Internet

SEMINAR

19 November 2015 (Thursday) 10:00 AM

CASE - Center for Social and Economic Research
al. Jana Pawła II 61/212, Warsaw

On October 28, CASE - Center for Social and Economic Research has published an innovative CASE CPI inflation index, which is based on price data from the internet. CASE experts have determined that inflation in October stood at -0.7 percent in month-to-month relation.
 

During the seminar, Bartosz Radzikowski and Adam Śmietanka from CASE will discuss the methodology of CASE CPI, a unique inflation indicator measured in real time. Economists will explain the specificity of web indicators and explain the discrepancies between online and offline indexes, and refer to similar studies from the United Kingdom and South America. The preliminary measurement of inflation level by GUS – Główny Urząd Statystyczny, the Polish statistical office  (0.1 m / m in October, compared to -0.7 CASE CPI) confirms that indexes based on the combination of official methodologies and online data can, especially in the short term, deviate from the official CPI indexes from Statistical Offices.


The seminar will also provide an opportunity for a discussion on Big Data in economic research and its application in public administration, including the process of measuring prices.