Google price index gets analysts’ thumbs-up

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Analysts have lauded the concept of a Google price index, saying that although it may not replace the consumer price index (CPI), it could grow into a valuable and informative sub-index.

Hal Varian, Google's chief economist and a former emeritus professor at the University of California, Berkeley, on Monday said the search engine company was constructing a price index that could provide a daily measure of inflation. The index would draw on internet shopping data, which Google gathers. Some CPI m

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