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Brian Graf

—referred to as a revolutionary product—from an existing product whose features and, in consequence, “quality” has changed—an evolutionary product. A revolutionary product is an entirely new good or service that is not closely tied to a previously available product. A revolutionary product tends to be a good or service that is expected to satisfy some need in a new way and is unlikely to ft neatly into an existing CPI item category. As an example, when mobile telephones were first introduced, they provided a significantly new service. While on the one hand, they provided

Brian Graf

from an evolutionary product. A revolutionary product is an entirely new good or service that is not closely tied to a previously available product. A revolutionary product tends to be a good or service that is expected to satisfy some need in a new way and is unlikely to ft neatly into an existing CPI item category. For example, a mobile phone, although an extension of an existing flow of service (telecommunication), has a new dimension of service (it provides the opportunity to make “mobile” calls away from a fixed telephone) and is a distinct product from

Brian Graf

Acquisition and Maintenance Cost of a Dwelling, Usually on a Net to the Sector Basis Approach More Suitable for Measuring Monetary Inflation. Consistent with Treatment of Other CPI Items. No Imputed Prices. Prone to Volatility in the Housing Market 11.144 As mentioned before, there is no single agreed-upon approach that is internationally recommended or applied for the treatment of owner-occupied housing services. Rather, there are four approaches that have gained recognition, each with its own conceptual basis. While the Manual refers to four

Brian Graf

Abstract

The Consumer Price Index Manual: Concepts and Methods contains comprehensive information and explanations on compiling a consumer price index (CPI). The Manual provides an overview of the methods and practices national statistical offices (NSOs) should consider when making decisions on how to deal with the various problems in the compilation of a CPI. The chapters cover many topics. They elaborate on the different practices currently in use, propose alternatives whenever possible, and discuss the advantages and disadvantages of each alternative. The primary purpose of the Manual is to assist countries in producing CPIs that reflect internationally recommended methods and practices.

Brian Graf

Abstract

5.1 Several factors will determine the choice of which price collection methods a national statistical office (NSO) uses, taking into consideration efficiency, accuracy, and representativity of consumers’ purchasing patterns. For example, local price collection is costly but can have the advantage of covering a wide range of locations and items, particularly for food, alcohol, tobacco, and durable goods such as clothing, furniture, and electrical products. On the other hand, central collection, either at the head office or in regional offices, can be cheaper and may be used for products where there are national pricing policies, as for rail fares, or where prices cannot be observed directly in retail outlets, such as for many professional services. With regard to representing consumers’ purchasing patterns, the price collection method also needs to reflect methods of shopping. For instance, internet purchases or goods purchased through mail order and catalogs need to be properly reflected in the sample.

Brian Graf

Abstract

6.1 Chapter 6 focuses on the treatment of temporarily and permanently missing varieties and their prices. While Chapter 5 focuses on the collection of data, Chapter 6 highlights the important role of the price collector in the context of the treatment of missing prices and starts by providing an overview of the matched-model method (MMM). While the MMM serves as the underlying method regarding the treatment of missing prices, the chapter describes how the MMM can potentially fail, the consequences of this failure, and how to deal with the effects of such failure on price measurement.