The adapted version of the website for people with disabilities was developed by the National Statistics Office of Georgia (Geostat) with the support of the United Nations Development Program (UNDP) and the Government of Sweden.
The adapted version of the website for people with disabilities was developed by the National Statistics Office of Georgia (Geostat) with the support of the United Nations Development Program (UNDP) and the Government of Sweden.
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Date: 14 February 2022
From January 24 to February 11, Geostat hosted the International Monetary Fund mission. The goal of the mission was the introduction of the scanner data in the calculation of the Consumer Price Index. Scanner data is a part of the so-called "Big Data" and one of the most topical area in price statistics. Geostat started the development of this direction in 2019, and the scanner data acquired a special significance during the pandemic period.
This mission is the second in a series of technical assistance project. Considering the pandemic restrictions, it was still held online. During the mission, data analysis and processing, software development, and sharing of relevant knowledge and experience with Geostat Price Statistics staff were performed with the assistance of an IMF expert. One of the main outcomes of the meetings was the calculation of experimental price indices for the scanner data.
According to the current plan, analysis of scanner data and assessment of their potential impact on inflation will continue in 2022. As for the integration of "Big Data" in the calculation of inflation, it is planned for 2023.
For reference, scanner data is information received from retailers about products sold in a specific period of time, according to their barcodes. Compared to traditional methods of price collection, this type of data is much more accurate, timely and has wider coverage, and its use will significantly increase the accuracy of the inflation rate.
