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A billion prices can’t be wrong, by Tim Harford

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 ‘A “big data” approach to inflation is helping us understand the fundamental question of why recessions happen’. In the dying days of 2015 came news to set any geek’s pulse racing: the declaration of a “statistical emergency” by Mauricio Macri, the new president of Argentina. Macri’s move enabled Jorge Todesca, head of the statistics bureau, […]

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Un argentino y un venezolano miden su propia inflación con mil millones de precios por día

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Alberto Cavallo y Robert Rigobon, economistas del MIT, comenzaron con la web Inflación Verdadera tras la intervención del Indec, pero ahora estiman la suba de precios todos los días en mas de 60 países. La intervención del Instituto Nacional de Estadísticas y Censos (Indec) produjo un giro académico para dos economistas a más de 8.500 […]

The euro and price convergence

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One of the euro’s founding objectives was price convergence. The hope was that consumer markets would become more integrated and prices would tend to equalize across countries. Our latest papers suggests that this is working precisely as intended for some industries. In “Currency Unions, Product Introductions, and the Real Exchange Rate” [Cavallo, Neiman and Rigobon […]

US Index Update

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We updated the US Daily Index on the BPP webpage. Online prices remained relatively stable during June, with a monthly inflation rate that fell until June 21st and then gradually increased at the end of the month. The annual inflation rate increased slightly to 3.73%, but remains in line with CPI estimates. For full series […]

US Index Updated

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The US index has been updated here. We had been anticipating a slowdown in the all-items CPI, which was reflected in the BLS announcement a few days ago. The annual inflation rate appears to be stabilizing around 3.5%. For more information, please visit http://bpp.mit.edu

BPP and PriceStats

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The BPP is proud to announce the launch of PriceStats, a start-up based in Cambridge MA with the mission of becoming a leading source of daily inflation statistics around the world. PriceStats will allow the BPP to focus on research and continue innovating in the field of real-time price statistics. Our research team will have […]

Price Index in Russia and other News

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A few updates from the BPP: -We added a new daily price index for Russia. It has been tracking the official CPI remarkably well over time. Results can be seen on http://bpp.mit.edu/daily-price-indexes/russia/ -We are updating our index for the UK, so we have temporarily removed it from the site. The update involves adding data from […]

MIT Sloan professors publish real-time inflation rates around the world in “Billion Prices Project”

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CAMBRIDGE, Mass., Nov. 8, 2010 – Inflation is a significant measurement for the economic health of countries around the world, but rates are often reported weeks after data is collected. To address this problem, Professors Roberto Rigobon and Alberto Cavallo at MIT Sloan School of Management have launched the Billion Prices Project (http://bpp.mit.edu), the first […]