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

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 admini...

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Bibliographic Details
Main Author: Guerreiro, Vanda
Other Authors: Baer, Andrew, Silungwe, Anthony
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2022
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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245 0 0 |a The Availability, Methodological Soundness, and Scope of Consumer Price Statistics in 2020  |c Vanda Guerreiro, Andrew Baer, Anthony Silungwe 
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653 |a Economic & financial crises & disasters 
653 |a Price indexes 
653 |a Inflation 
653 |a Deflation 
653 |a Economics: General 
653 |a Consumer price indexes 
653 |a Informal sector; Economics 
653 |a Consumer prices 
653 |a Economics of specific sectors 
653 |a Price Level 
653 |a Currency crises 
653 |a Macroeconomics 
653 |a Prices 
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520 |a 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