The Google Price Index : Planet Money : NPR
The company is looking at ways to use search queries to measure other real-world trends, including unemployment.
Varian told the FT that he got the idea for the GPI after his pepper grinder broke. He went online to look for a replacement, and was struck by the list of prices for pepper grinders.
“What’s the first thing you want to do if you’re an economist?” he asked. “You want to construct a price index.”