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Survey Framework Session III – Implementation of Price Survey on Household Consumption products

Survey Framework Session III – Implementation of Price Survey on Household Consumption products. ICP-Africa Regional Workshop Pretoria, South Africa 20 - 24 June 2011. Outline . 1. Dimension of geography 2. Products to be priced a. Selecting the products: important or less important

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Survey Framework Session III – Implementation of Price Survey on Household Consumption products

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  1. Survey FrameworkSession III – Implementation of Price Survey on Household Consumption products ICP-Africa Regional Workshop Pretoria, South Africa 20 - 24 June 2011

  2. Outline • 1. Dimension of geography • 2. Products to be priced • a. Selecting the products: important or less important • b. Product specifications • c. Number of products to be priced • d. The global core list and the regional lists • 3. Timeframe of survey

  3. 1. DIMENSION OF GEOGRAPHY • Country / Economy A Stratifying a country Obtain average national prices covering expenditures throughout the economic territory of the country. Urban Rural Urban Rural

  4. Location of Outlets Outlet Outlet Outlet Outlet Outlet Outlet Outlet Outlet Outlet Outlet Outlet Outlet Outlet Outlet Outlet Outlet Outlet Outlet Outlet Outlet Outlet Outlet

  5. Guidelines for the Selection of Outlets

  6. Outlet Types

  7. 2. PRODUCTS TO BE PRICED a. Selecting the products: important or less important Important products: Products whose expenditure share in the basic heading is large. • ICP 2011: Within each basic heading for the household consumption expenditure, countries will be asked to indicate whether each product is IMPORTANT or LESS IMPORTANT. Intra-country point of view

  8. Intercountry / regional point of view Country A Country B Expenditure share Expenditure share Country A is required to price Product 2, even though it has classified the product as less important, in order to provide links with other countries that have classified the product as important, such as Country B—and vice versa for Product 1.

  9. How to Determine Whether a Product Is Important • If a product is the same as, or similar to, a good or service included in the CPI, IT IS IMPORTANT. National coordinators may know whether a product is IMPORTANT (that is, it has a large expenditure share in the basic heading) from his or her own knowledge. The experts, mostly shopkeepers , can answer the question, because the success of their businesses depends on knowing which products are best -sellers and which are bought less often.

  10. Notes for Determining Importance If compared with other BHs If compared within the BH It is possible that the basic heading “Wine” has a smaller expenditure share compared with other basic headings. Still, specific wine product(s) should have a large expenditure share (= important) within the basic heading.

  11. 2. PRODUCTS TO BE PRICED b. Product specifications What is the SPD (structured product description) approach? Examples of product list using SPD approach (basic heading of “Fresh milk”) (Classification Valuables) Quantity Packaging Brand name Product characteristic Code Name Common for the basic heading Values of individual product Values of individual product Structured product descriptions are designed to clearly define the products to be priced.

  12. 2. PRODUCTS TO BE PRICED c. Number of products to be priced • More precise! • But costly… • Less precise… • But feasible! What, then, is the optimal number of products to be priced?

  13. Determining the Number of Products (1) The greater the variance (deviation) the lower the level of precision Therefore, The smaller the variance (deviation)  the greater the level of precision Therefore, The optimum: Enough products that the sampling error of the basic heading PPP based on the product PPPs is within a target level of precision.

  14. Determining the Number of Products (2)

  15. 2. PRODUCTS TO BE PRICED d. The global core list and the regional lists *We will learn the approaches in Module 8. Amalgamated regional lists • Each country is expected to price 100-300 of the 601 GCL items in their regional list.

  16. Global Core List (GCL) Global Office National coordinators Regional coordinators 2011 global core list

  17. Amalgamated Regional Lists – How they were developed First regional draft list Perfect match ICP 2011 Global Core List Comparable Exclusive Exclusive COMBINE - No duplication - Align characteristics Finalize • This process was carried out through • Exchange of e-mail • Regional workshops 2011 amalgamated regional list

  18. 3. TIMEFRAME OF SURVEY Average national prices throughout the year as a whole. Factors in the timeline for the survey

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