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Apr., 1988, Vol. 111, No. 2
CPI revision provides more accuracy in the medical care services componentIna Kay Ford and Philip Sturm
T he medical care services component of the Consumer Price Index (CPI) underwent several changes when the CPI was revised. We analyze these changes in expenditure weights, definitions, and structure of the component. We also discuss the methodology (pricing and treatment of quality changes) and data sources used for construction of the medical care services component.
In January 1987, the Bureau of Labor Statistics began publication of the revised Consumer Price Index (CPI). The major objectives of this revision were (1) to update the content and weights of the market basket of goods and services priced for the CPI; (2) to update the statistical sample of urban areas, outlets, and unique items used in calculating the CPI; (3) to improve the statistical methods used for computing a number of CPI component; and (4) to improve operating procedures.1 This article describes the changes in consumption patterns, definitions, methodology, and data sources of the medical care services component of the revised CPI.
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1 For additional information on the revised CPI, see Charles Mason and Clifford Butler, "New basket of goods and services being priced in revised CPI, "Monthly Labor Review, January 1987, pp. 322.
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