May 2002
Journal of Financial Planning;May2002, Vol. 15 Issue 5, p21
Academic Journal
This article focuses on a Consumer Price Index (CPI) introduced by the U.S. Labor Department in summer 2002 designed to adjust for the way consumers adjust their buying habits as prices rise. The index is expected to show a slightly lower rate of inflation than the current CPI. The index, called a superlative or chain index, will focus on minimizing the regular CPI substitution bias. The premise is that when prices rise in one area, consumers buy less of those products and more of another type of product.


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