Working to Improve the Consumer Price Index
نویسندگان
چکیده
منابع مشابه
Some proposals to improve the Consumer Price Index
The Consumer Price Index is a good index for its intended purpose-a measure of average price changes in the goods and services that consumers purchase . Some of the complaints made-that the CPI does not reflect the price changes for this or that group properly-are a misinterpretation of the purpose of the CPI and would not provide desirable guidelines for revising the index. Nor would any of th...
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1.1 A price index is a measure of the proportionate, or percentage, changes in a set of prices over time. A consumer price index (CPI) measures changes in the prices of goods and services that households consume. Such changes affect the real purchasing power of consumers’ incomes and their welfare. As the prices of different goods and services do not all change at the same rate, a price index c...
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The paper considers the use of a Consumer Price Index (CPI) for three possible purposes: (1) as a Cost of Living Index (COLI); i.e., as a measure of the relative cost of achieving the standard of living when facing two different sets of prices for the same group of commodities; (2) as a consumption deflator; i.e., the price change component for a decomposition of a value ratio into price and qu...
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Many developing countries use food-price subsidies or controls to improve nutrition. However, subsidizing goods on which households spend a high proportion of their budget can create large wealth effects. Consumers may then substitute towards foods with higher non-nutritional attributes (e.g., taste), but lower nutritional content per unit of currency, weakening or perhaps even reversing the su...
متن کاملThe Effects of Rounding on the Consumer Price Index
The Bureau of Labor Statistics rounds the Consumer Price Index (CPI) to a single decimal place before releasing it, and the published CPI inflation series is calculated from those rounded index values. While rounding has only a relatively small effect on the level of the CPI series at present, it can have a significant effect on CPI inflation, the monthly percent changes in the CPI. This paper ...
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ژورنال
عنوان ژورنال: Journal of Economic Perspectives
سال: 1998
ISSN: 0895-3309
DOI: 10.1257/jep.12.1.27