engleski

Errors in a Consumer Price Index

The Consumer Price Index is one of the most important macroeconomic indicators. Errors in the CPI can have enormous implications for the whole community. Two broad categories of errors can be distinguished: sampling and non-sampling errors. Despite the efforts of many statistical institutions in constructing accurate statistics, errors are unavoidable to some extent. The most important point is to ascertain whether they are small enough to be ignored or serious enough to mislead users.

Cosumer Price index; sampling error; quality change bias; new products bias; substitution bias

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