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Measuring regional cost of living

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Author Info

  • Jahyeong Koo
  • Keith Phillips
  • Fiona Sigalla

Abstract

Accurate measures of regional cost of living are vital to businesses and individuals. We compare a commonly used regional cost-of-living index, produced by the American Chamber of Commerce Research Association (ACCRA), to an index we calculate using Consumer Price Index data and research from Kokoski, Cardiff, and Moulton. We find significant differences between the ACCRA and the new indexes that are likely due to theoretical design, data collection, and sampling design. The comparison of these indexes highlights sources of differences in regional cost-of-living measures and suggests caution in the use of ACCRA indexes.

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Bibliographic Info

Paper provided by Federal Reserve Bank of Dallas in its series Working Papers with number 9713.

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Date of creation: 1997
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Handle: RePEc:fip:feddwp:97-13

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Web page: http://www.dallasfed.org/
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Keywords: Cost and standard of living;

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