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Some challenges in Price Statistics by Thomas Werkhoven

Some challenges in Price Statistics by Thomas Werkhoven. STATISTICS: INVESTMENT IN THE FUTURE 2, International Statistical Conference, Prague 2009. Current Dutch price statistics. PPI Agriculture (Gentlemen’s agreement) PPI Industry (STS) Construction price indexes (STS)

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Some challenges in Price Statistics by Thomas Werkhoven

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  1. Some challenges in Price Statisticsby Thomas Werkhoven STATISTICS: INVESTMENT IN THE FUTURE 2, International Statistical Conference, Prague 2009

  2. Current Dutch price statistics • PPI Agriculture (Gentlemen’s agreement) • PPI Industry (STS) • Construction price indexes (STS) • Retail price index (STS, based on CPI) • PPI Services (STS, B2B) • CPI (HICP) • Import and export price indexes (partly STS) • Housing price indexes • Absolute prices (agriculture, energy, world trade) • Missing: wholesale and some service sectors >> transfer • : interconnection of price statistics

  3. Simplified scheme of flows

  4. Example 1: Production price of consumption • CPI := production price + transfer price • Production price = PPI (inland production + import) • Transfer price = inland transport, trade, tax • Production price based on (a) COICOP instead of ProdCom/CN and (b) CPI weights • Transfer price index can be derived

  5. Food prices in the Netherlands

  6. Bread & grain prices

  7. Milk prices

  8. Example 2: input & output prices new houses • Various new house prices available: • Input costs of construction (STS, based on prices of materials and labor) • Output price of construction, excl. land and costs of transfer (hedonic price, based on building permits) • Market price (POOH – HICP)

  9. Example 2: input & output prices new houses

  10. Medium-term plans • To incorporate agriculture (and fish) into the PPI in order to achieve full coverage of goods • To set up a PPI-consumption index which will be published in more detail step-by-step • Analyses of the implicit transfer price index

  11. Thank you for your attention

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