What is it about?

It is important to consider web scraped product prices in the calculation of the inflation (consumer price index - CPI) because more consumers tend to shop online. This paper shows an aggregation of web scraped daily prices and its application for calculating CPI in the Slovak market.

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Why is it important?

To reflect an economic activity of online shoping in the CPI, national statistical institutes need to incorporate online prices of products within the calculation. It is improtant to consider and select the most suitable price index to reflect the price dynamics of particular products.


Writing this article was a great pleasure since it is the first research study of using web scraped data in the Slovak market in the CPI calculation. I hope it will serve as a starting block for further research by statisticians and academics in the Slovak Republic and as a further evidence for a worldwide research community.

Peter Knizat
Statistical Office of the Slovak Republic

Read the Original

This page is a summary of: Web scraped data in consumer price indices, Statistical Journal of the IAOS, March 2023, IOS Press,
DOI: 10.3233/sji-220115.
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