Each week, we select a recently published Open Access article to feature. This week’s article comes from the International Statistical Review and considers the history of sampling error estimation for consumer price indices.
The article’s abstract is given below, with the full article available to read here.
Several different approaches have been proposed for the calculation of sampling errors in consumer price indices (CPIs), but only one is in regular use providing published estimates. The history of the development of sampling error estimation for CPIs is reviewed, and the development in the USA (where most research has taken place) is summarised. The proposed approaches for sampling error estimation are set out, with their properties and their different conceptualisations of the sampling error. The frameworks for the measurement of errors more widely in the CPI are also reviewed, and the evidence for the importance of the sampling error among the other error sources is presented. Some opportunities and directions for further work are provided.