Price measure Monthly Consumer Price Index (CPI) microdata CPI goods CPI services 1996-2006 1996-2006 1996-2006 February 2005-February 2008 February 2005-February 2008 Excluding fresh products and February 2005-February 2008 price reversals Excluding fresh products Sample 1996-2006 CPI excluding promotions Weekly supermarket data Percentage of prices changing 19% a month 24% a month 9% a month 15% a month 60% a week 40% a week 27% a week Implied duration between price changes 5.3 months 4.2 months 11.1 months 6.7 months 1.7 weeks 2.5 weeks 3.7 weeks Notes. Monthly CPI microdata are locally-collected data only. All figures are weighted by sales values. Sources, CPI and Nielsen microdata.
Price measure Monthly Consumer Price Index (CPI) microdata CPI goods CPI services 1996-2006 1996-2006 1996-2006 February 2005-February 2008 February 2005-February 2008 Excluding fresh products and February 2005-February 2008 price reversals Excluding fresh products Sample 1996-2006 CPI excluding promotions Weekly supermarket data Percentage of prices changing 19% a month 24% a month 9% a month 15% a month 60% a week 40% a week 27% a week Implied duration between price changes 5.3 months 4.2 months 11.1 months 6.7 months 1.7 weeks 2.5 weeks 3.7 weeks Notes. Monthly CPI microdata are locally-collected data only. All figures are weighted by sales values. Sources, CPI and Nielsen microdata.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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What does this table show?
Table 1: Picture 1 |
Table 1. Frequency of consumer
- CPI excluding promotions: it is a measure of average prices that excludes goods that are subjected to some
temporary discount or promotion;
- Price reversals: they refer to situations where, following a rise or fall in any given price, the subsequent change is an
Transcribed Image Text:Price measure
Monthly Consumer Price Index
(CPI) microdata
CPI goods
CPI services
Sample
1996-2006
1996-2006
1996-2006
CPI excluding promotions
Weekly supermarket data
1996-2006
February 2005-February 2008
February 2005-February 2008
Excluding fresh products and February 2005-February 2008
price reversals
Excluding fresh products
Percentage of
prices changing
19% a month
24% a month
9% a month
15% a month
60% a week
40% a week
27% a week
Implied duration
between price changes
5.3 months
4.2 months
11.1 months
6.7 months
1.7 weeks
2.5 weeks
3.7 weeks
Notes. Monthly CPI microdata are locally-collected data only. All figures are weighted by sales values.
Sources. CPI and Nielsen microdata.
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