The Billion Prices Project @ MIT

MIT has started an automated system to extract a value similar to the consumer price index, only do it every day. They call it the Billion Prices Project. This is a brilliant match of internet automation and economics! And it appears to track the CPI reasonably well over the long-term. This is what they’re doing:

We currently monitor daily price fluctuations of ~5 million items sold by ~300 online retailers in more than 70 countries.

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