1. Electronic Data Collection Methods The Use of Transaction data for PPI Heiðrún Guðmundsdóttir, Rósmundur Guðnason and Guðrún R. Jónsdóttir (Statistics Iceland) Joint UNECE/ILO Meeting on Consumer Price Indices, Geneva, 8-9 May 2008.

2. Overview Historical background of the Icelandic PPI Electronic data collection Superlative index compilation

3. The Icelandic PPI Rapid development First published in 2004 (quarterly index) A monthly index since January 2007 Has been compiled as a superlative index at the elementary level from the beginning. From year 2006 compiled as a superlative index at the aggregate level as well.

4. Data features Electronic methods – Common features Accounting records – Additional features Customer identifiers Business terms Discounts Prices Quantities Products Total Values

5. Effective for both parties Greatly expands the available and useable data Gives us the tools (the production values every month) to compile a superlative index Quantity information is available for every transaction Benefits of Electronic Data

6. Participation reluctance due to data confidentiality Unfamiliarity of the statistical importance of the PPI Incapability to deliver data due to poorly organized data. Hindrances in Data Collection

7. At elementary level: Using data for the evaluation month and the previous month in the compilation At aggregate level: Base weights originate from PRODCOM surveys Weights are extrapolated to the evaluation month with the firms’ monthly production values The Superlative Index Fisher

8. The optimal solution to use superlative approaches on all compilation levels is reached through collecting electronic data on production directly from the firms’ accounting records. Conclusion