DOI:
10.31063/2073-6517/2019.16-3.6
For citation:
Kozlova, M. A. (2019). Theoretical Aspects of Economic Statistics: Consumer Price Index vs Cost-of-living Index. Zhurnal Economicheskoj Teorii [Russian Journal of Economic Theory], 16(3), 368-377
Abstract:
The significance of economic approach to price indexing is connected with the need of current methodological correction in the field of price statistics. This transformation as a part of recent work of international and national statistical agencies is based on the theoretical concepts which form price index numbers. It is vital because of dynamic consumer preferences and patterns, creation of new goods, and spatial price dispersion on the consumer market. As a result, this article considers the main approaches of economic theory to the division and connection of calculated consumer price index and cost-of-living index that represents the theoretical concept of consumer behavior in market economy. Aggregation and classification of approaches to price indexing intend to define perspectives for development of index theory and to improve the statistical quality of calculated indexes.
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