Google to Map Inflation Using Web Data

Tuesday Oct 12th 2010 by Staff

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has long been used to track inflation, relies on hand-collected data, is published monthly, and is usually a few weeks out of date.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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