num_pages: 67
description: Discusses budgetary implications of changes in the CPI overstating changes in the cost of living. Presents an overview of the CPI , details why it is not a true cost of living index, &amp; discusses substitution bias. Describes procedures employed to adjust for quality change, presents a survey of studies &amp; the Commissions judgment on the bias from quality change &amp; new products, &amp; summarizes findings on the size of the bias. Discusses the issue of separate price indexes for different groups &amp; of aspects of quality of life that fall outside the market based consumption focus of cost-of-living measures.
language: English
title: Final Report of the Advisory Commission to Study the Consumer Price Index Cpi
titlecomplete: Final Report of the Advisory Commission to Study the Consumer Price Index Cpi
publisher: Diane Pub Co