TERMS OF USE

By accessing and using the website provided by PriceStats LLC (“PriceStats”, “we”, “our” or “us”) located at www.pricestats.com (and any successor url) (the “Site”), and any materials and/or content, including data, series, indices, research, or other analyses contained on the Site or otherwise provided to you by PriceStats (e.g., through email, Dropbox, HyperText Transfer Protocol, File Transfer Protocol, or any other protocol) (collectively, the “Services”), you agree to the following terms of use (“Terms”) and all applicable laws and regulations.

1. Acceptance. Your access to and use of this Site is subject to your compliance with these Terms and any additional terms and conditions set forth separately on the Site. If you do not agree with and accept these Terms, you are prohibited from using or accessing the Site. We may, at any time and without notice, modify these Terms by posting a revised version of the Terms on the Site. Your continued use of the Site constitutes your acceptance of any such revisions, so you should periodically review the current Terms.

2. Permitted Use. The Services are protected by applicable copyright, trademark and other intellectual property law, and you may not copy, modify, use, disclose or provide access to any Services, except as expressly authorized in these Terms, without our prior written consent. The Site and the Services are provided solely for general informational purposes and solely for your personal use. You agree that you are responsible for your use of the Site and the Services. You further agree that you will not access this Site from any territory where it would be illegal to do so, and that you will comply with applicable laws and regulations. We may update or modify the Site or the Services at any time without notice. We do not, however, make any commitment to update the Site or the Services or the content provided in connection therewith.

3. Notice; Electronic Communications. When you visit the Site or send e-mails to us, you are communicating with us electronically. You consent to receive communications from us electronically. We may communicate with you by e-mail or by posting notices on the Site. You agree that all agreements, notices, disclosures and other communications that we provide to you electronically satisfy any legal requirement that such communications be in writing.

4. Privacy. We will not sell or otherwise distribute your information to organizations outside of PriceStats and any of its affiliates or its or their respective directors, members, officers, employees, agents, representatives, suppliers, service providers, partners or licensors (“PriceStats Parties”) or the Billion Prices Project (“BPP”) without your written permission. Any other communication or material you transmit to the Site, including questions, comments and/or suggestions, will only be used by PriceStats to respond to you directly and in all other cases will be forwarded to State Street (see Section 6 of these Terms) as the data controller who will address your request.

5. About our Data. PriceStats makes no guarantees regarding the Site or the Services. You hereby acknowledge:

a) The Services are intended to serve as an analytical tool that users might consult in connection with estimating official inflation trends and changes in real exchange rates for select economies. Our series are an estimation based only on certain data points that may change from time to time, are not exhaustive, and are not guaranteed to be accurate or appropriate for your use.

b) We provide data to the BPP for research purposes. However, we do not follow the views, recommendations, methodologies, and/or research developed or published as part of the BPP.

c) Our analyses are based on observations of historic data that may not be indicative of future performance or trends.

d) We may apply multiple transformations to raw data collected from online retailers to clean and categorize it, and errors may occur in connection with such collection, cleaning and categorization.

e) PriceStats uses proprietary methodologies for the calculation of the PriceStats series, including but not limited to, the selection of retailers and products, price index formulas, sector or sub-sector weights, quality adjustments, methods to identify comparable products, and ways to identify and correct for outliers and data quality issues. PriceStats does not commit to any methodology used or designed by other organizations and we may adjust our methodologies from time to time, in our sole discretion.

f) We use proprietary models to estimate inflation in those sectors and sub-sectors for which there is no online information available or easy to obtain. In addition, for all sectors we may use techniques to compensate for methodological differences with official statistics.

g) We do not disclose the names of the retailers we use for price information, and make no commitment regarding the number of retailers to be included in a series, or which retailers or portions of retailers are included in each series. Retailers may be removed or replaced from a series at our discretion.

h) We make no commitments regarding the number and variety of items included in any series, including aggregate, sector, sub-sector, or product-category series.

i) The selection of product categories for PPP series is at PriceStats’ sole discretion.

j) The number and type of product categories in the PPP series may vary from country to country depending on data availability and quality.

k) The Out of Stock Series includes large retailers that sell either food or health items and that show an out of stock indicator on their website. The number of retailers with such an indicator is limited. Therefore, the number of retailers used for this series is significantly lower than in the other series and may not be representative of a country’s out of stock context.

l) The online presence of our retailers may not be reflective of item availability in a particular store in areas affected by the novel Coronavirus (COVID-19).

m) Metrics for the Out of Stock Series may include slight discrepancies from week to week. This is because we are continually improving our methodology for calculating these statistics and are working on including new retailers in the analysis.

n) We do not revise previously published estimates, even if an error is discovered or a change in methodology is applied.

6. General Disclaimer. The Site and the Services are provided “as is” and PriceStats hereby disclaims all warranties, expressed or implied, including without limitation any implied warranties of merchantability, fitness for a particular purpose, or non-infringement of intellectual property or other violation of rights. Further, PriceStats does not warrant or make any representations concerning the accuracy, completeness, currency, availability, quality, usefulness, or reliability of any Services, the Site, or any use thereof. You are solely responsible for your use of the Services, including any decisions or other actions taken (or not taken) in connection therewith. Past performance is not indicative of future performance.

The PriceStats Parties may provide oral or written market, economic, policy or macroeconomic commentary or policy, trading or investment strategies that reflect opinions that are contrary to the opinions or data expressed in the Services.

PriceStats currently distributes its daily inflation statistics and PPP series exclusively through State Street. If you would like to access our series and are not currently a State Street client, please contact us and we will connect you with the State Street team. Any information separately provided by State Street to you shall be subject to State Street’s applicable terms and conditions.

7. Limitation of Liability. In no event shall PriceStats be liable for any incidental, consequential or other damages (including, without limitation, damages for loss of data or profit, or due to business interruption) arising out of or related to the Site, the Services, or the use or inability to use the Site or any Services, even if advised of the possibility of such damages.

8. Indemnification. You agree to indemnify, defend, and hold the PriceStats Parties harmless from and against all losses, expenses, damages and costs, including reasonable attorneys’ fees, resulting from any violation of these Terms or any activity related to your access to this Site or the Services or anyone using your account information, as applicable.

9. Third-Party Links. The Site may link to websites operated by third parties. Even if such third party is affiliated with PriceStats, we have no control over these linked sites, all of which have separate, independent terms and privacy practices. These linked sites are only for your convenience and you access them at your own risk. PriceStats disclaims all warranties related to such linked sites or any products or services offered in connection therewith.

10. Intellectual Property. All Services, including, without limitation, text, graphics, logos, icons, images, audio clips, digital downloads, data compilations, and software, and the methodology and compilation of such Services, are the property of PriceStats or its content suppliers and protected by United States and international intellectual property laws. All software used on the Site is the property of PriceStats or its software suppliers and protected by United States and international copyright laws. You agree not to change or delete any proprietary notices from materials printed or downloaded from the Site.

11. Governing Law and Jurisdiction. These Terms and your use of the Site are governed by the laws of the Commonwealth of Massachusetts, USA, without regard to its choice of law provisions. The courts of general jurisdiction located within Boston, Massachusetts, USA, will have exclusive jurisdiction over any and all disputes arising out of, relating to or concerning these Terms and/or the Site.

12. Assignment. We may assign our rights and duties under these Terms to any party at any time without notice to you.