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Article: Recent and planned improvements to Consumer Price Indexes. (Program Report).(Statistical Data Included)
- Article from:
- Monthly Labor Review
- Article date:
- May 1, 2002
CopyrightCOPYRIGHT 2002 U.S. Bureau of Labor Statistics. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Bureau of Labor Statistics is engaged in a continuing effort to improve the Consumer Price Index program. The focus of these efforts in recent years has centered on three areas: (1) employing more current spending patterns and samples of priced items; (2) reflecting the effects of consumer substitution in response to relative price change; and (3) accounting more completely both for changes in the quality of existing consumer goods and services and for new product introductions.
Updating expenditure patterns
The CPI has a two-tiered weighting structure; at the upper level the weights are based upon data from the Consumer Expenditure Survey. ...