슬라이드 1 UNECE ILO Meeting on Consumer

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					UNECE/ILO Meeting on Consumer Price Index




                    Reflection consumers’ e-
                  commerce change on the CPI




                  Kyunghee Kim, Statistics Korea (KOSTAT)
                                                            1
             Contents
I. Korean CPI outline
II. Internet development in Korea
III. E-commerce in Korean CPI
IV. Conclusion




                                    2
 I. Korean CPI outline


1. Usage
    Inflation measurement
    Expenditure deflation at current prices or
     income
   Indexation of social security benefit
    • Pension, compensation, reparation


                                                  3
I. Korean CPI outline

2. Scope
 Households
  • Exclude households whose primary activity
    is farming or fishing
 Geographical area
  • 7 metropolitan area and 31 large cities
 Outlets
  • The PDS collects prices of an item in 150
    local stores.

                                                4
I. Korean CPI outline


3. Items and Weight
 Items and weights are derived from the
   Household Income and Expenditure Survey
   (the HIES) conducted in 9000 households
 Revision in every 5 years ending 0 or 5
  • Items, weight, and cities are changed
  • The PSD prepares 2010 revision


                                             5
I. Korean CPI outline


4. Price Collection
 Conduct regularly every month
 Agricultural product, gasoline, golden ring
  • Three times a month
 Manufactured goods and services
  • Once a month


                                                6
II. Internet development in Korea

 8 out of 10 households access the Internet
 6 out of 10 persons experience the Internet
   shopping
             Experience of     No Experience of
           Internet shopping   Internet shopping
  Total           62.3                37.7
  Male           55.6                44.4
  Female         70.3                29.7

                                                   7
 III. E-commerce in Korean CPI


 For 19 items, the PSD has collected prices
  through the Internet shopping malls and
  produces the CPI since 2005.
 The PSD prepares the revision of 2010 rebase
 Three criteria for e-commerce’s items
  ① Transaction percent
  ② Survey availability
  ③ Different price trend
                                                 8
 III. E-commerce in Korean CPI



 Transaction values
  • E-commerce and cyber shopping survey
  • Ad hoc survey in the HIES households
  • Items : Households appliances, Cosmetic,
     Books, Computers and other appliances



                                               9
 III. Transaction Value by commodity

                                                 (Unit : billion won)
                                         2009            Increase
 Commodity Group       2005
                                 Value      Percent        rate
Total                   10,676    20,641        100.0          93.9
Clothes and fashion      1,583     3,524         17.1         122.6
Travel                   1,604     2,668         12.9          66.3
Household appliances     1,786     2,683         13.0          50.2
Computer                 1,027     2,035          9.9          98.1
Cosmetics                 587      1,104          5.3         154.6
Books                     496      1,030          5.0         107.7

                                                                        10
 III. E-commerce in Korean CPI



 Survey Availability
  • Items and Internet shopping malls
  • Each product has its own popular shopping
     malls
  • Pretest for 6 months and check survey
     availability

                                                11
 III. E-commerce in Korean CPI



 Different price trend
  • T-test of the means and variance between the
     prices of the Internet shopping malls and
     local stores
  • Exclusion items which have the same trend


                                                   12
 III. E-commerce in Korean CPI

 Weight
  • Households Income and Expenditure Survey
    could not provide information the goods are
    purchased by the on-line or off-line
  • The PSD computes the weights of items for e-
    commerce by Wholesale and retail trade
    survey and E-commerce and cyber shopping
    survey
                                                   13
                                              (Unit : billion won)

  Commodity Group          Value (A)   Value (B) (B/A)*100

Households appliances       18,202         2,466         13.5

         Books               5,989         1,137         19.0

       Cosmetics             8,329         917           11.0

A : Wholesale and retail trade survey
B : E-commerce and cyber shopping survey


                                                                     14
 III. E-commerce in Korean CPI

 Index
  • The PSD weights the two relative prices to
    produce the item index
    • Internet shopping malls & local stores
  • Refrigerator index
    • Internet shopping : 120.5
    • Local stores : 130.4
    • 130.4 =120.5*0.135 + 130.4*0.875

                                                 15
 IV. Conclusion


 Finalize the items and weights for e-commerce
   in December 2010
 E-commerce’s impact on the CPI will be
   increased in 2010 rebase because of more items
   and weights



                                                    16
Thank you for your attention
             &
   Welcome any question

                               17

				
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