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					New approach to single market monitoring
Session 4: Typology of needs and data requirements

                      Eurostat Conference
              “Reviewing the business architecture
                    of consumer price statistics”

Alexandre Makaronidis
Head of Price Statistics Unit
          New approach to single market monitoring

           The new approach to single market monitoring has put
            detailed price data at the centre of this policy and thus, in
            Eurostat's view, the need for a new strategy for price
            statistics high within the statistical priorities of the ESS.

           Not all policy-data issues are for official statistics to
            address, but this need is one we think the ESS can
            address.

           The following provides an attempt to sum-up new and
            established user needs and show a way forward taking
            into consideration the results of empirical work so far.


15-16/10/2009   Eurostat Conference – Reviewing the Business Architecture of Price Statistics
          New approach to single market monitoring


                                                          ESS



                                              STRATEGY FOR
                                             PRICE STATISTICS




                                                DETAILED PRICES




15-16/10/2009   Eurostat Conference – Reviewing the Business Architecture of Price Statistics
         What are the needs in terms of consumer prices?

           More detailed price indices:

                 – more detailed sub-indices for HICPs and PPPs

                 – regional HICPs and PPPs

                 – more special aggregates for the HICP
                      (frequent out-of-pocket purchases; HICP at constant taxes)

                                                                                                …/…




15-16/10/2009   Eurostat Conference – Reviewing the Business Architecture of Price Statistics
          What are the needs in terms of consumer prices?
          (continued)


          Regular measurement of price dispersion
                – across markets, over space and time

          Regular measurement of detailed price levels
                – across markets, over space and time

          Better integration of consumer price statistics with
           other price statistics
                – picture of prices through the supply chain




15-16/10/2009   Eurostat Conference – Reviewing the Business Architecture of Price Statistics
         Can we achieve it?

           Some say the detailed prices project is:
                 ‘— By far too much’,
                 ‘— By far too difficult’, and if so
                 ‘— We need to start from scratch’


           However, empirical work so far suggests that:
                 ‘— It can be achieved – at reasonable costs.’


           In particular, much can be achieved by better
            integrating HICP and PPP (data and methodologies)




15-16/10/2009   Eurostat Conference – Reviewing the Business Architecture of Price Statistics
          What are the key issues?

           More classifications work:
                 – more detailed COICOP, common to HICPs, PPPs and HBSs
                   (from min. 600 to max. 1,000 positions)

                 – more effective use of the classification systems used by
                   retailers

           A more efficient approach to specifying the prices
            we collect (through HICP or PPP samples)

           An infrastructure that enables a more effective use
            of the prices collected


15-16/10/2009   Eurostat Conference – Reviewing the Business Architecture of Price Statistics
          For this to be achieved:
           We need to debate old ‘fixed’ positions on
                 -    what is comparable and what is representative
                 -    how these statistics are collected,
                 -    what they mean, and
                 -    what they could be used for.


           Statisticians working in both domains will need to debate
            and compromise.

           Better adjust temporal comparisons to developments in
            quality and consumer preferences.

           Base spatial comparisons on alternative definitions.


15-16/10/2009   Eurostat Conference – Reviewing the Business Architecture of Price Statistics
         Benefits to both HICPs and PPPs

           There will be one platform for both HICPs and PPPs
            for a constant dialogue between users and
            producers on which data can best be used to
            address present, emerging and shifting needs in the
            future.

           Reduction of known statistical inconsistencies
            between HICPs and PPPs

           Further integration will allow better quality control
            and improve the reliability of both statistics.



15-16/10/2009   Eurostat Conference – Reviewing the Business Architecture of Price Statistics

				
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