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2017 | OriginalPaper | Chapter

11. Measuring Inflation at a Detailed Level

Authors : Robert O’Neill, Jeff Ralph, Paul A. Smith

Published in: Inflation

Publisher: Springer International Publishing

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Abstract

As we have seen in other chapters in this book, the construction of a price index for measuring inflation is a complex business; however, at the lowest level of most price indices, it is reduced to a more simple problem: How to measure the average price change when we are faced with only price information? In this chapter, the main methods for doing this are re-introduced and the relationships between them are considered before we discuss the various ways in which people choose between the available methods.

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previous chapter From the RPI to the CPI: 1990–2011

next chapter What Should We Be Measuring?

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Title: Measuring Inflation at a Detailed Level
Authors: Robert O’Neill
Jeff Ralph
Paul A. Smith
Publisher: Springer International Publishing
Book: Inflation
Print ISBN: 978-3-319-64124-9

Electronic ISBN: 978-3-319-64125-6

Copyright Year: 2017
DOI: https://doi.org/10.1007/978-3-319-64125-6_11