UNECE/ILO Meeting on Consumer Price Index
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UNECE/ILO Meeting on Consumer Price Index Reflection consumers’ e-commerce change on the CPI Kyunghee Kim, Statistics Korea (KOSTAT) Contents Korean CPI outline Internet development in Korea E-commerce in Korean CPI Conclusion I. Korean CPI outline Usage Inflation measurement

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UNECE/ILO Meeting on Consumer Price Index

Reflection consumers’ e-commerce change on the CPI

Kyunghee Kim, Statistics Korea (KOSTAT)


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  • Contents

  • Korean CPI outline

  • Internet development in Korea

  • E-commerce in Korean CPI

  • Conclusion


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I. Korean CPI outline

  • Usage

    • Inflation measurement

    • Expenditure deflation at current prices or income

    • Indexation of social security benefit

      • Pension, compensation, reparation


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I. Korean CPI outline

  • Scope

  • Households

    • Exclude households whose primary activity is farming or fishing

  • Geographical area

    • 7 metropolitan area and 31 large cities

  • Outlets

    • The PDS collects prices of an item in 150 local stores.


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I. Korean CPI outline

  • Items and Weight

  • Items and weights are derived from the Household Income and Expenditure Survey (the HIES) conducted in 9000 households

  • Revision in every 5 years ending 0 or 5

    • Items, weight, and cities are changed

    • The PSD prepares 2010 revision


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I. Korean CPI outline

  • Price Collection

  • Conduct regularly every month

  • Agricultural product, gasoline, golden ring

    • Three times a month

  • Manufactured goods and services

    • Once a month


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II. Internet development in Korea

  • 8 out of 10 households access the Internet

  • 6 out of 10 persons experience the Internet shopping


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III. E-commerce in Korean CPI

  • For 19 items, the PSD has collected prices through the Internet shopping malls and produces the CPI since 2005.

  • The PSD prepares the revision of 2010 rebase

  • Three criteria for e-commerce’s items

    • Transaction percent

    • Survey availability

    • Different price trend


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III. E-commerce in Korean CPI

  • Transaction values

    • E-commerce and cyber shopping survey

    • Ad hoc survey in the HIES households

    • Items : Households appliances, Cosmetic, Books, Computers and other appliances



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III. E-commerce in Korean CPI

  • Survey Availability

    • Items and Internet shopping malls

    • Each product has its own popular shopping malls

    • Pretest for 6 months and check survey availability


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III. E-commerce in Korean CPI

  • Different price trend

    • T-test of the means and variance between the prices of the Internet shopping malls and local stores

    • Exclusion items which have the same trend


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III. E-commerce in Korean CPI

  • Weight

    • Households Income and Expenditure Survey could not provide information the goods are purchased by the on-line or off-line

    • The PSD computes the weights of items for e-commerce by Wholesale and retail trade survey and E-commerce and cyber shopping survey


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(Unit : billion won)

A : Wholesale and retail trade survey

B : E-commerce and cyber shopping survey


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III. E-commerce in Korean CPI

  • Index

    • The PSD weights the two relative prices to produce the item index

      • Internet shopping malls & local stores

    • Refrigerator index

      • Internet shopping : 120.5

      • Local stores : 130.4

      • 130.4 =120.5*0.135 + 130.4*0.875


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IV. Conclusion

  • Finalize the items and weights for e-commerce in December 2010

  • E-commerce’s impact on the CPI will be increased in 2010 rebase because of more items and weights


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Thank you for your attention

&

Welcome any question


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