Although inflation is much feared for its negative effects on the
economy, how to measure it is a matter of considerable debate that has
important implications for interest rates, monetary supply, and
investment and spending decisions. Underlying many of these issues is
the concept of the Cost-of-Living Index (COLI) and its controversial
role as the methodological foundation for the Consumer Price Index
(CPI).
Price Index Concepts and Measurements brings together leading experts
to address the many questions involved in conceptualizing and measuring
inflation. They evaluate the accuracy of COLI, a Cost-of-Goods Index,
and a variety of other methodological frameworks as the bases for
consumer price construction.