Common Misconceptions about the Consumer Price Index
In the afternoon I used Live search to find more information on ‘largest hamburger’ so I could post it into ‘Hamburger dip’. And this is one of the first results I found:
Hamburger and steak are in different CPI item categories, so no substitution between them is built into the CPI-U or CPI-W. … Then, for example, if a television in the CPI is replaced by one with a larger screen and higher price, the BLS can make an adjustment to the price difference by e…
source: Common Misconceptions about the Consumer Price Index, Economist’s View
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