Riksbank unveils results of web-scraping project
Big data technique for collecting prices could better capture volatile inflation components
Economists at Sveriges Riksbank unveiled the results of their work on a “web-scraping” project today (June 9), which they hope will contribute to more accurate forecasts.
The pilot project focused on methods of gathering price data on volatile components of the consumer prices index directly from the internet.
“Scraping” involves sending requests to a website’s server in much the way a standard internet browser does – however, instead of displaying the information, the scraping tool uses the
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