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The C.P.I.: A Simple Explanation and Some Words of Warning

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  • Longworth, John W.
  • Bos, Ted

Abstract

Indexation of wages, pensions and tax scales to allow for inflation requires a reliable measure of the rate of inflation. In Australia the Consumer Price Index (C.P.I.) has been the basis of all official indexation. This paper examines both theoretical and practical problems involved in constructing a C.P.I. and the Australian C.P.I. in particular. Alternative indices of the rate of inflation such as a Wholesale Price Index and an Implicit Price Deflator, are also discussed.

Suggested Citation

  • Longworth, John W. & Bos, Ted, 1978. "The C.P.I.: A Simple Explanation and Some Words of Warning," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 46(01), pages 1-16, April.
    • Handle: RePEc:ags:remaae:10334
    DOI: 10.22004/ag.econ.10334
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    References listed on IDEAS

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    3. Lazare Teper, 1956. "BLS Consumers' Price Index and the AMS Index of Prices Paid by Farmers for Family Living—A Juxtaposition," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 38(2), pages 378-390.
    4. Laura Mae Webb, 1956. "Discussion: The Need for an Expanded Price Research Program," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 38(2), pages 390-394.
    5. Irving H. Siegel, 1956. "What Concepts Are Appropriate to Consumer Price Indexes?," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 38(2), pages 361-368.
    6. J. R. Hicks, 1942. "Consumers' Surplus and Index-Numbers," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 9(2), pages 126-137.
    7. Pollak, Robert A, 1975. "Subindexes in the Cost of Living Index," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 16(1), pages 135-150, February.
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