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Brian Graf

Introduction 6.1 Chapter 6 focuses on the treatment of temporarily and permanently missing varieties and their prices. While Chapter 5 focuses on the collection of data, Chapter 6 highlights the important role of the price collector in the context of the treatment of missing prices and starts by providing an overview of the matched-model method (MMM). While the MMM serves as the underlying method regarding the treatment of missing prices, the chapter describes how the MMM can potentially fail, the consequences of this failure, and how to deal with

International Monetary Fund. Statistics Dept.

methodology paper to reflect recent improvements. The CPI methodology paper published on the NBS web site should be a living document and continually updated when new methods are introduced. In that regard the mission recommended to update the current document as soon as any change takes place. The instructions manual for price collection should be similarly updated whenever methods are changed. 14. The product and variety samples are made with non-probability techniques. Price collectors consider the location of the goods in the store and the quantity available as

International Monetary Fund

that for items in industries where model replacements are rapid, continued long-run matching depletes the sample and quality adjustment becomes unfeasible on the scale required. Chained matching or hedonic indices are deemed preferable. 8.3 Sampling concerns . The matching of prices of identical items over time, by its very nature, is likely to lead to the monitoring of a sample of items that is increasingly unrepresentative of the population of transactions. Price collectors may keep following those selected items until they are no longer available. Thus, price

International Monetary Fund

generally more effective for controlling sample representativeness (assuming that a reliable sampling frame or set of reference data is available) and for controlling for quality differences, and can also reduce the variance of prices and price relatives, thus optimizing the performance of some aggregation formulae. But they can result in a smaller achieved sample, as there is less flexibility for price collectors to choose an appropriate item in a particular shop. In contrast, broad item descriptions can increase the size of the achieved sample but can be more difficult

International Monetary Fund

data, code data elements, review and edit basic price data, and compile collected data to produce indices. In addition, the training should impart to staff information on the purposes and uses of the collected prices. Price collectors need to be trained specifically in field procedures, including relations with businesses, a selection and definition of a valid price, special rules for certain individual price transactions (including seasonal price transactions), how to complete initiation forms, and, where appropriate, how to use computers. Compilers of the

International Monetary Fund

recognizing these options, this chapter, which talks about organization and management of PPI procedures, covers the relationships between the price collectors (who may be stationed at regional offices in large countries) and PPI staff at the central office (covering the work carried out in the central office, the flow of information among each part of the organization, and related activities for coordinating collection and processing data). Because of the size, frequency, cost, or complexity of the collection of prices as the basis of the index, in some countries not all