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On a Problem in Consumers' Price Index Number
Author(s) -
Thakurta B. K. Guha
Publication year - 1967
Publication title -
journal of the royal statistical society: series c (applied statistics)
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.205
H-Index - 72
eISSN - 1467-9876
pISSN - 0035-9254
DOI - 10.2307/2985235
Subject(s) - index (typography) , consumer price index (south africa) , price index , economics , mathematics , econometrics , statistics , computer science , monetary economics , world wide web , monetary policy
Summary While constructing a consumers' price index certain sub‐items representing an item of consumption at the base year often go off the market after a lapse of time for reasons unrelated to the consumers' standard of living. No current period prices of such sub‐items are available and this leads to difficulties in constructing the consumers' price index by the usual method. A method is suggested here which dispenses with the above‐mentioned problem and also gives better estimates of the price relatives from the viewpoint of the sampling theory.