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May/June 1997, 
Vol. 79, No. 3
Posted 1997-05-01

Alternative Strategies for Aggregating Prices in the Consumer Price Index

by Matthew D. Shapiro and David W. Wilcox

This article presents a new estimate of the magnitude of the across-strata effect in the CPI. It also proposes a method for picking the low-hanging fruit—that is, for publishing a real-time index substantially free of across-strata bias.