As the global landscape continues to evolve, so does the need for innovative approaches to Consumer Price Index (CPI) production. In this context, the New Development Economics Global Institute (DEC Global), in collaboration with the Rome's Center for Development Data (C4D2), the UN Regional Hub for Africa, the United Nations Economic Commission for Africa (UNECA), and the Bank of Italy, organized the training course CPI Innovation and Modernization, that took place from July 24th to 28th at S.A.Di.Ba, Perugia.
This intensive 5-day training program aimed to equip CPI experts from African National Statistical Offices (NSOs) and IT professionals with the knowledge and skills needed to adapt to the dynamic challenges of CPI surveying.
The course centered around two main themes, encompassing both theoretical understanding and practical implementation.
CPI Innovation: The training will shed light on the use of big data and alternative data sources in CPI surveys, driven in part by the Covid-19 crisis. Participants will gain insights into managing multi-technique and multi-source surveys, harnessing diverse techniques and data sources effectively.
Modernizing CPI Survey Design: Delving into the improvement of traditional data collection methods, participants will explore the methodology for estimating weights and compiling indices. Additionally, the course will cover the adoption of the COICOP 2018 classification and its implementation in CPI production.
Key Highlights of the Course
- Embracing CPI Evolution and Methodology
Harnessing Innovative Techniques and Data Sources
- Empowering CPI with COICOP 2018
Hands-On Weight Estimation and Sampling
Adopting Innovative Data Collection Tools
Effective CPI Dissemination
The CPI Innovation and Modernization course proved to be an enriching and immersive experience, providing participants with valuable insights and practical guidance to elevate their CPI production. By engaging in hands-on sessions for periodic weight estimation, sampling design, and adopting innovative data collection tools, participants gained practical experience to improve the quality and accuracy of their CPI outputs, contributing to informed decision-making and economic progress in the region.
