MIT team develops real-time inflation statistics globally utilizing a massive 5,000,000 pricing database which pulls pricing data from online sources in real-time. I am really surprised no one thought of this before. Certainly a very good idea and great work from the MIT team. I am curious as to how accurate this will ultimately turn out to be given the wide variances in online pricing. Worth a read and a place where I will certainly be turning to for inflation validation in the future. I will also be keeping an eye on how closely these daily statistics mirror quarterly statistics produced by the CPI here in the US.
Blog » The Billion Prices Project @ MIT