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Quality vs Price The CPI Under Scrutiny
Sylvia Porter reports that quality improvements in autos appliances and medical care may have inflated price indexes since 1937. NBER cautions that CPI may overstate inflation by about a third, suggesting real prices could be flat or falling when quality is fully accounted for. The piece invites reconsideration of cost of living measures.
MENTIONED IN THIS ARTICLE
New York
Sylvia Porter
CPI
National Bureau of Economic Research
Solomon Fabricant
Bureau
U.S
NBER
Fabricant