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August 2008, Vol. 131, No. 8
Addressing misconceptions about the Consumer Price Index
John S. Greenlees
Research Economist, Division of Price and Index Number Research, Bureau of Labor Statistics.
Research Economist and Chief, Division of Price and Index Number Research, Bureau of Labor Statistics.
A number of longstanding myths regarding the Consumer Price Index and its methods of construction continue to circulate; this article attempts to address some of the misconceptions, with an eye toward increasing public understanding of this key economic indicator.
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Consumer Price Index
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Price measurement in the United States: A decade after the Boskin Report.—May 2006.
CPI research series using current methods, 1978-98.—June 1999.
Incorporating a geometric mean formula into the CPI.—Oct. 1998.
Basic components of the CPI: estimation of price changes.—Dec. 1993.
Changing the treatment of shelter costs for homeowners in the CPI.—Jun. 1982.
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