International Monetary Fund
Consumer price index manual: concepts and methods, 2020
Consumer price index manual: concepts and methods, 2020
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The Consumer Price Index Manual provides guidance on compiling a consumer price index (CPI) and discusses methods, practices, and alternatives. It aims to assist countries in producing CPIs that reflect internationally recommended methods and practices.
Format: Paperback / softback
Length: 505 pages
Publication date: 30 June 2021
Publisher: International Monetary Fund (IMF)
The Consumer Price Index Manual: Concepts and Methods is a comprehensive resource that provides detailed information and explanations on the compilation of a consumer price index (CPI). It serves as a guide for national statistical offices (NSOs) in making informed decisions regarding the various challenges involved in CPI compilation. The Manual encompasses a wide range of topics, covering various practices currently employed, proposing alternatives whenever feasible, and discussing the advantages and disadvantages of each alternative.
The primary objective of the Manual is to assist countries in producing CPIs that adhere to internationally recommended methods and practices. It offers valuable insights into the latest developments and best practices in CPI compilation, enabling NSOs to improve their methodologies and ensure the accuracy and reliability of their inflation measurements.
The Manual is organized into several chapters, each dedicated to a specific aspect of CPI compilation. These chapters delve into the theoretical foundations, data sources, and estimation techniques used in CPI calculations. They discuss the importance of quality control, data validation, and the use of appropriate statistical models. Additionally, the Manual explores the challenges associated with measuring inflation in different sectors, such as housing, food, and transportation, and provides practical solutions to address these challenges.
One of the key strengths of the Consumer Price Index Manual is its comprehensive coverage of alternative methods and practices. It recognizes that different countries may have unique economic and cultural contexts, and therefore offers a range of options that can be tailored to their specific needs. The Manual discusses the advantages and disadvantages of each alternative, allowing NSOs to make informed decisions about which approach is most suitable for their country.
Furthermore, the Manual emphasizes the importance of transparency and accountability in CPI compilation. It encourages NSOs to publish their methodologies, data sources, and any adjustments made to the index. This transparency helps to build trust in the CPI as a reliable measure of inflation and enables policymakers and the public to understand the factors contributing to price changes.
In conclusion, the Consumer Price Index Manual: Concepts and Methods is an essential resource for national statistical offices and policymakers seeking to compile accurate and reliable consumer price indices. It provides comprehensive information and explanations on CPI compilation, covering a wide range of topics and offering alternative methods and practices. By adhering to internationally recommended methods and practices, countries can produce CPIs that serve as valuable tools for monitoring inflation, implementing monetary policies, and assessing the well-being of their populations.
Weight: 1412g
Dimension: 216 x 280 x 33 (mm)
ISBN-13: 9781484354841
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