Google to Map Inflation Using Web Data

Tuesday Oct 12th 2010 by Datamation.com Staff
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The "Google Price Index" could provide an alternative to the Consumer Price Index and other standard statistics.

Financial Times: The Consumer Price Index, which has long been used to track inflation, relies on hand-collected data, is published monthly, and is usually a few weeks out of date. Google thinks it has a better option. The Google Price Index tracks online prices for goods in real time.

Although Google hasn't yet decided to publish the Index, it could one day help economists get a better picture of what is happening in the marketplace.

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