TAILIEUCHUNG - AtWhat Price? Conceptualizing and Measuring Cost-of-Living and Price Indexes

The Consumer Price Index (CPI) is one of the most widely used statistics in the United States. As a measure of inflation it is a key economic indicator. It serves as a guide for the Federal Reserve Board’s monetary policy and is an essential tool in calculating changes in the nation’s output and living standards. It is used to determine annual cost-of-living allowances for social security retirees and other recipients of federal payments, to index the federal income tax system for inflation, and as the yardstick for . Treasury inflation-indexed bonds | At What Price Conceptualizing and Measuring Cost-of-Living and Price Indexes Panel on Conceptual Measurement and Other Statistical Issues in Developing Cost-of-Living Indexes Charles L. Schultze and Christopher Mackie Editors Committee on National Statistics Division of Behavioral and Social Sciences and Education National Research Council NATIONAL ACADEMY PRESS Washington DC NATIONAL ACADEMY PRESS 2101 Constitution Avenue NW Washington DC 20418 NOTICE The project that is the subject of this report was approved by the Governing Board of the National Research Council whose members are drawn from the councils of the National Academy of Sciences the National Academy of Engineering and the Institute of Medicine. The members of the committee responsible for the report were chosen for their special competences and with regard for appropriate balance. This study was supported by Contract No. J-9-J-8-0039 between the National Academy of Sciences and the Bureau of Labor Statistics. Support of the work of the Committee on National Statistics is provided by a consortium of federal agencies through a grant from the National Science Foundation Number SBR-9709489 . Any opinions findings conclusions or recommendations expressed in this publication are those of the author s and do not necessarily reflect the views of the organizations or agencies that provided support for the project. Library of Congress Cataloging-in-Publication Data At what price conceptualizing and measuring cost-of-living and price indexes Panel on Conceptual Measurement and Other Statistical Issues in Developing Cost-of-Living Indexes Charles L. Schultze and Christopher Mackie editors. p. cm. Committee on National Statistics Division of Behavioral and Social Sciences and Education. Includes bibliographical references and index. ISBN 0-309-07442-8 hardcover 1. Consumer price indexes United States. 2. Cost and standard of living United States Statistical methods. 3. Prices United States Statistical methods. 4.

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