During the past few years, interest in high-frequency price data has grown steadily. Recent major economic events - including the food crisis and the energy price surge – have increased the need for timely high-frequency data, openly available to all users. Standard survey methods lag behind in meeting this demand, due to the high cost of collecting detailed sub-national data, the time delay usually associated with publishing the results, and the limitations to publishing detailed data. For example, although national consumer price indices (CPIs) are published on a monthly basis in most countries, national statistical offices do not release the underlying price data.
This is the first of a two-part blog series on offline open data pilots recently conducted in Indonesia and Kenya. Part one focuses on Indonesia, while the subsequent blog post will describe our findings in Kenya. This series is part of a larger project on the demand for open financial data being conducted by the World Bank Group Open Finances program and World Bank Institute’s Open Contracting Partnership.
Meet Gede Darmawan and Gede Sudiadnya, who live in the village of Desa Ban in Indonesia. These two young men were a part of a story of transformation, one that saw them turn from passive receivers of information to active engagers. It was a remarkable display of the potential power of open financial data.
Gede Darmawan (age 17), Gede Sudiadnya (age 22)