PriceStats uses online prices to calculate innovative economic indicators.

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1. Scraping

PriceStats uses web scraping technologies to monitor online prices every day. Web scraping is the process of automatically collecting information from the web by converting unstructured data (typically in HTML format) into structured datasets that can be stored and analyzed.

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2. Online Retailers

A key step of our approach is to identify the best retailers we can use for inflation and PPP measurement. PriceStats makes a significant effort to select retailers with large market shares, in relevant cities, that sell both offline and online.

In most countries, our data covers key economic sectors such as food, clothing, electronics, furniture and energy.

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3. Processing

Once the data collection is complete, PriceStats runs a set of automatic procedures to ensure that the data can be used for inflation and PPP measurement.

A red-flag system and manual checks are applied to all datasets daily to identify and resolve potential data issues.

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4. Statistics

We finally compute our daily statistics using proprietary methodologies and online prices.