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Data Papers on Price indices



Understanding Commercial Property Price indexes Understanding Commercial Property Price indexes
Mick Silver, World Economics, September 2013
The type of database used for the measurement of commercial property price indexes (CPPIs) dictates the potential weaknesses in the resulting indexes and limitations of the methods available for measuring the indexes. Two major types of data are appraisals of the value ... More


Currency Valuation and Purchasing Power Parity Currency Valuation and Purchasing Power Parity
Jamal Ibrahim Haidar, World Economics, September 2011
This paper aims to highlight key limitations of The Economist magazine’s Big Mac Index (BMI). The Economist markets the BMI as a tool to determine valuation of currencies. This paper shows that the BMI is a misleading measure of currency valuation for econ ... More


The Power of Price Indexes The Power of Price Indexes: And how to use them to steal a hundred billion dollars, seriously underestimate Japanese growth for 20 years and escape easily from debt
Raymond Cheung and Mike Waterson
World Economics, March 2011
Price indexes are the most important of all economic indicators simply because they are the tool used to calculate the real size, speed and direction of all forms of economic activity. Price indexes are compiled almost everywhere, but with major differences in method an ... More


What a Consumer Price Index Can’t Do What a Consumer Price Index Can’t Do
Ralph Turvey, World Economics, September 2004
A monthly consumer price index traces changes in the monthly cost of a year’s consumption using a sample of prices. But in some months the prices that can be sampled will temporarily exclude some of the products that were bought in the base year, Christmas trees prov ... More


Measuring Consumer Inflation in the United Kingdom Measuring Consumer Inflation in the United Kingdom: Recent developments and the future outlook
David Fenwick, World Economics, March 2003
Responding to Mick Silver’s proposals regarding the RPI, David Fenwick of the ONS summarises some of the issues that confront compilers of price indices. ... More


Some Proposed Methodological Developments for the UK Retail Prices Index Some Proposed Methodological Developments for the UK Retail Prices Index
Mick Silver, World Economics, March 2003
The Retail Prices Index (RPI) is one of the UK’s most important macroeconomic indicators, as well as being used for indexation/adjustments for inflation to wages and benefits. This paper argues that the dynamic changes in product markets and consumers’ responses to p ... More


Owner-occupiers and the Price Index Owner-occupiers and the Price Index
Ralph Turvey, World Economics, September 2000
The treatment of owner-occupied dwellings in Consumer Price Indexes varies between countries and is the subject of continuing controversy. Ralph Turvey explains the alternative possible treatments and reasons for disagreement.

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From Big Macs to iMacs From Big Macs to iMacs: What do international price comparisons tell us?
Jonathan Haskel & Holger Wolf, World Economics, June 2000
The authors review recent international price comparisons to examine the veracity of claims about “rip-off Britain”. They reach three conclusions. First, methodologically, the data requirements for a meaningful price comparison are very demanding and most of the evidenc ... More