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Scanner Data and Price Indexes$
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Robert C. Feenstra and Matthew D. Shapiro

Print publication date: 2002

Print ISBN-13: 9780226239651

Published to Chicago Scholarship Online: February 2013

DOI: 10.7208/chicago/9780226239668.001.0001

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Price Collection and Quality Assurance of Item Sampling in the Retail Prices Index

Price Collection and Quality Assurance of Item Sampling in the Retail Prices Index

How Can Scanner Data Help?

(p.67) 3 Price Collection and Quality Assurance of Item Sampling in the Retail Prices Index
Scanner Data and Price Indexes

David Fenwick

Adrian Ball

Peter Morgan

Mick Silver

University of Chicago Press

This chapter describes the U.K. Office for National Statistics' experience in comparing scanner data with conventionally collected data from its Retail Price Index (RPI). The U.K. RPI is a widely employed macro-economic indicator in the formation and monitoring of economic policy and for the indexation of welfare and other state benefits. Scanner data offer the potential to deliver up-to-date and accurate information. The process of matching price data from the RPI with scanner data on unit values was not always successful despite a series of reconciliation and validity checks. Clearly differences in the mix of shops between scanner data and the RPI sample could produce significant differences in both the average price of items and the average price change. Scanner data by store type indicate that special care must be taken to ensure a proper spread of outlets in the RPI sample.

Keywords:   U.K. Office for National Statistics, scanner data, Retail Price Index, price data, shops, store type

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