"Chain drift" in the Chained Consumer Price Index: 1999-2017.

The article employs circularity and unity tests, as well as multilateral index comparisons, to measure the existence and extent of "drift" in the Chained Consumer Price Index for All Urban Consumers (C-CPI-U). It also presents various formulas to real data that were used to calculate the Consumer Pr...

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Bibliographic Details
Published in:	Monthly Labor Review pp. 1 - 33
Main Authors:	Cage, Robert, Williams, Brendan, Church, Jonathan D.
Format:	Article
Published:	US Department of Labor Dec2021
Subjects:	Rent Student exchange programs Consumer price indexes Price levels Motor vehicle maintenance & repair
Online Access:	View this record in EBSCOhost

Description
Summary:	The article employs circularity and unity tests, as well as multilateral index comparisons, to measure the existence and extent of "drift" in the Chained Consumer Price Index for All Urban Consumers (C-CPI-U). It also presents various formulas to real data that were used to calculate the Consumer Price Index during the period from December 1999 to December 2017 from the U.S. Bureau of Labor Statistics (BLS).