Approach

Our approach is grounded on inflation series that cover a wide scope of countries and industries, are updated in a timely fashion and represent a meaningful tool for end users.

WIDE SCOPE

PriceStats monitors the prices of ~5 million products sold by ~300 online retailers across 70 countries. We cover key industries like: food and beverages, apparel, electronics, energy, personal care, real estate, furniture, and more. Our approach targets the collection of a broad scope of information by item, including: prices, product descriptions, product attributes, and sale information that is cleaned, screened, classified and used in the development of our daily inflation statistics.

TIMELY

Our technology allows us to systematically aggregate price information on a daily basis, helping clients assess upcoming inflation trends. The daily inflation concept is a breakthrough idea for inflation measurement and we will continue to lead innovation in this field.

MEANINGFUL

PriceStats applies the same statistical methodology in each country, allowing our series to be comparable around the world. This effort involves three major “ingredients”: a careful collection of relevant prices, the understanding of pricing practices and behaviors by retailer and product, and a methodology to aggregate individual prices. PriceStats leverages the expertise of MIT Sloan economists Prof. Roberto Rigobon and Alberto Cavallo on pricing behavior and our daily access to a rich scope of price information to develop targeted statistical methods that transform our data into meaningful inflation series.

Data Capture

The following map shows the countries where PriceStats currently monitors prices on a daily basis: