About This Course
Price statistics and index numbers are among the most consequential outputs of any national statistical system. They underpin monetary policy decisions, wage negotiations, business pricing strategies, poverty assessments, and GDP measurement. Yet many professionals who work with or commission these statistics lack a rigorous grounding in how they are constructed, what their limitations are, and how international standards apply in practice.
This five-day course, offered by TrainingComplex, provides a comprehensive and applied treatment of price statistics and index numbers. Beginning with the conceptual foundations of price measurement, the programme advances through the principal index number formulae, the practical compilation of the Consumer Price Index (CPI), Producer Price Index (PPI), and other key price indicators, and concludes with the use of these statistics in economic analysis and policy communication.
Delegates will engage directly with real datasets, work through compilation exercises, and study case examples drawn from African and global national statistical offices. The programme is aligned with the IMF's Consumer Price Index Manual, the ILO Producer Price Index Manual, and the System of National Accounts (SNA), equipping participants to meet international reporting standards while addressing the specific challenges of their operating environments.
Whether you are a statistician responsible for producing official price data, an economist who interprets and uses these series, or a policy analyst who must communicate price trends to decision-makers, this course will sharpen your technical competence and broaden your analytical perspective.
Who Should Attend
- Statisticians and data analysts in national statistical offices responsible for price data compilation
- Economists in central banks, finance ministries, and planning authorities who use price indices in policy analysis
- Research analysts in international development organisations and think tanks working on inflation and cost-of-living studies
- Procurement and supply chain professionals who apply price indices in contract escalation and commodity tracking
- Monitoring and evaluation officers who incorporate price-adjusted data in programme assessments
- Academic researchers and postgraduate students in economics, statistics, or development studies
Learning Objectives
- Explain the conceptual basis of price measurement and the economic theory underlying index number construction
- Distinguish between and apply the principal index number formulae, including Laspeyres, Paasche, Fisher, and Törnqvist indices
- Describe the structure, compilation methodology, and international standards governing the Consumer Price Index
- Compile and quality-assure a Producer Price Index in line with IMF manual guidelines
- Construct and interpret additional price indicators including export and import price indices, house price indices, and GDP deflators
- Design and evaluate basket composition and weighting structures using household expenditure survey data
- Identify and address common sources of bias, error, and methodological inconsistency in price statistics
- Apply seasonal adjustment techniques to price index series
- Use price indices to deflate nominal economic aggregates and conduct constant-price analysis
- Communicate price statistics clearly and accurately to technical and non-technical stakeholders
Course Modules
Module 1: Foundations of Price Measurement
- The economic rationale for measuring prices and inflation
- Concepts of the cost-of-living index versus the fixed-basket price index
- Scopes and domains: consumer, producer, trade, and asset prices
- Overview of key international manuals and standards (IMF CPI Manual, ILO PPI Manual, SNA)
- The role of price statistics in national accounts, monetary policy, and social protection
- Introduction to the index number problem and why no single perfect index exists
Module 2: Index Number Theory and Formulae
- The Laspeyres index: construction, interpretation, and substitution bias
- The Paasche index: construction, interpretation, and upper-bound properties
- The Fisher ideal index as the geometric mean of Laspeyres and Paasche
- The Törnqvist and Walsh indices and their superlative properties
- Axiomatic and economic approaches to evaluating index number formulae
- Chaining versus fixed-base index calculation and the implications for long time series
Module 3: Basket Design and Weighting Structures
- Designing the consumption basket: scope, coverage, and commodity classification
- Using Household Income and Expenditure Survey (HIES) data to derive expenditure weights
- Handling new goods, disappearing goods, and quality change in the basket
- Geographic disaggregation and the treatment of regional price differences
- Frequency of weight revision and the timing of basket updates
- Practical workshop: constructing a weighted basket from simulated survey data
Module 4: Price Data Collection and Survey Methods
- Outlet selection strategies: probability sampling versus purposive approaches
- Price collector training, protocols, and quality control procedures
- Handling missing prices: imputation methods and substitution rules
- Treatment of seasonal products, sales prices, and discounts
- Digital data collection tools and the use of scanner data in modern price surveys
- Monitoring field data quality: edit checks, outlier detection, and supervisor review
Module 5: Consumer Price Index: Compilation and Quality Assurance
- Step-by-step CPI compilation workflow from raw price quotes to published index
- Elementary aggregate construction: Jevons, Dutot, and Carli formulae compared
- Higher-level aggregation using expenditure weights
- Base period selection, index rebasing, and linking procedures
- Common sources of CPI bias and international evidence on their magnitude
- Quality assurance framework: validation rules, revision policy, and audit trails
Module 6: Producer Price Index and Trade Price Indices
- Conceptual distinctions between the PPI and CPI: scope, valuation, and coverage
- Industry coverage and product classification in the PPI (ISIC, CPC frameworks)
- PPI compilation methodology: establishment surveys and administrative data sources
- Export Price Index and Import Price Index: construction and data sources
- Unit value indices versus true price indices: strengths, weaknesses, and when to use each
- Linking PPI movements to upstream cost pressures and their transmission to consumer prices
Module 7: Additional Price Measures: GDP Deflators, House Prices, and Asset Prices
- The GDP deflator: derivation from nominal and constant-price national accounts
- Comparing the GDP deflator and CPI as inflation measures: conceptual and empirical differences
- Residential Property Price Indices (RPPI): international standards and compilation challenges
- Asset price indices and their relevance to financial stability monitoring
- Construction cost indices and their application in infrastructure project management
- Agriculture and food price indices: FAO frameworks and commodity price monitoring
Module 8: Seasonal Adjustment of Price Series
- Understanding seasonality in price data: sources and implications for analysis
- X-13ARIMA-SEATS and TRAMO-SEATS: an introduction to the leading seasonal adjustment packages
- Identifying and testing for seasonality using statistical diagnostics
- Selecting and applying appropriate seasonal adjustment parameters
- Revision policies for seasonally adjusted series and communication with users
- Practical exercise: applying seasonal adjustment to a simulated monthly CPI series
Module 9: Using Price Indices in Economic Analysis
- Deflating nominal GDP, wages, and household income to derive real series
- Measuring real consumption growth and poverty line updates using price indices
- Using price indices in contract escalation clauses and procurement adjustments
- Analysing inflation transmission: from global commodity prices to domestic retail prices
- Price index decomposition: identifying which components drive headline inflation
- Cross-country price level comparisons and Purchasing Power Parity (PPP) basics
Module 10: Communication, Dissemination, and Governance of Price Statistics
- International data dissemination standards: IMF SDDS and e-GDDS requirements
- Drafting user-friendly press releases and technical notes for CPI and PPI releases
- Data visualisation techniques for communicating price trends to policymakers and the public
- Managing revisions transparently: revision policy design and stakeholder communication
- Statistical legislation, independence, and the governance of official price statistics
- Building user trust: consultation mechanisms, metadata documentation, and quality frameworks
Requirements & Prerequisites
Participants should have a working knowledge of basic statistics and economics, including familiarity with concepts such as averages, percentages, and price levels. Experience working with economic data or official statistics in a professional or academic context is recommended. No advanced econometrics background is required, though comfort with spreadsheet software such as Microsoft Excel will be beneficial for the hands-on exercises.
Training Methodology
- Structured presentations introducing theoretical frameworks with real-world examples drawn from African and international statistical offices
- Spreadsheet-based index compilation exercises using live datasets from national CPI and PPI releases
- Comparative case studies examining how different countries handle basket design, weighting, and base-period revision
- Group workshops in which teams diagnose and correct methodological errors in simulated price surveys
- Guided data analysis sessions applying seasonal adjustment and deflation techniques to actual economic time series
- Peer review of participant-compiled indices against international manual benchmarks
- Facilitated policy communication exercises requiring participants to draft press releases and briefing notes on price movements
- Reflective discussion sessions linking course content to participants' specific institutional contexts and data challenges
Organisational Benefits
- Strengthened capacity to produce price statistics that meet IMF, ILO, and international SNA standards
- Improved accuracy and consistency of CPI and PPI data used in monetary policy and budget planning
- Reduced methodological errors in index compilation, lowering the risk of policy decisions based on flawed price data
- Enhanced ability to interpret and critically evaluate externally published price series used in contracts and programme assessments
- Greater institutional credibility through alignment with internationally recognised price measurement frameworks
- Upskilled staff who can mentor colleagues and support internal quality assurance processes for statistical outputs
Where Is Prices Statistics and Index Numbers Training Offered?
This course runs in-person across: Nairobi, Johannesburg, Kampala, Kigali, Riyadh, Mombasa, Dubai, Naivasha, Lagos, Cape Town, Abuja, Nakuru, Zanzibar, Accra, Dar es Salaam, Addis Ababa, Arusha, Pretoria, Kisumu, plus Live Virtual (online) cohorts. Browse live dates for your city below.
Upcoming Schedules
| Location | Format | Dates | Price |
|---|
| Nairobi, Kenya |
In-Person |
5 Oct 2026 – 9 Oct 2026 |
KES 105,000 |
| Johannesburg, South Africa |
In-Person |
5 Oct 2026 – 9 Oct 2026 |
USD 3,500 |
| Kampala, Uganda |
In-Person |
12 Oct 2026 – 16 Oct 2026 |
USD 1,900 |
| Kigali, Rwanda |
In-Person |
12 Oct 2026 – 16 Oct 2026 |
USD 1,900 |
| Live Virtual |
Online |
17 Oct 2026 – 8 Nov 2026 |
KES 80,000 |
| Riyadh, Saudi Arabia |
In-Person |
19 Oct 2026 – 23 Oct 2026 |
USD 4,500 |
| Mombasa, Kenya |
In-Person |
19 Oct 2026 – 23 Oct 2026 |
KES 120,000 |
| Dubai, United Arab Emirates |
In-Person |
19 Oct 2026 – 23 Oct 2026 |
USD 4,100 |
| Naivasha, Kenya |
In-Person |
19 Oct 2026 – 23 Oct 2026 |
KES 115,000 |
| Lagos, Nigeria |
In-Person |
19 Oct 2026 – 23 Oct 2026 |
USD 2,500 |
| Cape Town, South Africa |
In-Person |
19 Oct 2026 – 23 Oct 2026 |
USD 3,800 |
| Abuja, Nigeria |
In-Person |
19 Oct 2026 – 23 Oct 2026 |
USD 2,800 |
| Nakuru, Kenya |
In-Person |
19 Oct 2026 – 23 Oct 2026 |
KES 120,000 |
| Zanzibar, Tanzania |
In-Person |
26 Oct 2026 – 30 Oct 2026 |
USD 2,500 |
| Accra, Ghana |
In-Person |
26 Oct 2026 – 30 Oct 2026 |
USD 3,800 |
+233 more dates — view live schedule →
Frequently Asked Questions
Do I need an advanced statistics background to attend this course?
No advanced statistics background is required. Participants should have a basic understanding of economics and statistics at an undergraduate level or equivalent professional experience. Comfort with spreadsheet software such as Microsoft Excel is helpful for the practical exercises.
Will I receive a certificate upon completing the course?
Yes. Participants who attend all sessions and complete the required exercises will receive a TrainingComplex Certificate of Completion in Prices Statistics and Index Numbers. The certificate can be used for continuing professional development records.
Is this course aligned with international standards such as the IMF CPI Manual?
Yes. The course content is explicitly aligned with the IMF Consumer Price Index Manual (2020), the ILO Producer Price Index Manual, and the System of National Accounts (SNA 2008), ensuring participants gain knowledge that meets international reporting and quality requirements.
Can this course be delivered in-house for our organisation's statistical team?
Yes. TrainingComplex offers customised in-house delivery of this programme for national statistical offices, central banks, and other organisations. In-house delivery allows the content and datasets used to be tailored to your institution's specific methodologies and challenges.
What software or tools will participants use during the course?
The hands-on exercises are conducted primarily using Microsoft Excel, which is accessible to most participants without additional licensing. Sessions on seasonal adjustment introduce participants to X-13ARIMA-SEATS concepts, though software installation is demonstrated rather than required on participants' own machines.
