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Addressing misconceptions about the Consumer Price Index
John S. Greenlees
Research Economist, Division of Price and Index Number Research, Bureau of Labor Statistics.
Robert McClelland
Research Economist and Chief, Division of Price and Index Number Research, Bureau of Labor Statistics.
A number of longstanding myths regarding the Consumer Price Index and its methods of construction continue to circulate; this article attempts to address some of the misconceptions, with an eye toward increasing public understanding of this key economic indicator.
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