Billion Prices Project Inflation Tracking CPI as of 30June2011

July 24th, 2011
in econ_news

Econintersect:  MIT's Billion Prices project - which collects data from on-line retailers released their data through the end of Jun2011 showing the annual inflation rate at 3.73% which compares well to the BLS Consumer Price Index (CPI) rate of 3.6% (analysis here).    This index is designed to provide real-time information on major inflation trends.

Online prices remained relatively stable during June, with a monthly inflation rate that fell until June 21st and then gradually increased at the end of the month. The annual inflation rate increased slightly to 3.73%, but remains in line with CPI estimates.

Follow up:

The interesting part of the correlation is the massively different data set being used.  MIT's Billion Points samples costs for goods (not services) on the internet - and its sampling base would be much less than 50% of the universe sampled by the BLS.  Econintersect has previously shown a tight correlation between food prices only and the CPI (analysis here).

source: MIT



Make a Comment

Econintersect wants your comments, data and opinion on the articles posted.  As the internet is a "war zone" of trolls, hackers and spammers - Econintersect must balance its defences against ease of commenting.  We have joined with Livefyre to manage our comment streams.

To comment, just click the "Sign In" button at the top-left corner of the comment box below. You can create a commenting account using your favorite social network such as Twitter, Facebook, Google+, LinkedIn or Open ID - or open a Livefyre account using your email address.



Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day


Asia / Pacific
Middle East / Africa
USA Government

RSS Feeds / Social Media

Combined Econintersect Feed

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution



  Top Economics Site Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2017 Econintersect LLC - all rights reserved