Briefly explain the steps to the construction of a consumer price index (CPI)

April 7th, 2011 Comments off
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Earlier article on practical challenges on constructing the consumer price index (CPI).Below are the brief steps to construct a consumer price index (CPI):

  • Select the base year
  • Select a basket of goods and services
  • Assign weights
  • Gather information on goods and services

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Financial Accounting


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