Variance estimates for changes in the Consumer Price Index: January 1987- December 1991

Article Abstract:

Error measures for the Consumer Price Index (CPI) indicate whether index CPI series changes are significantly greater than zero and therefore which ones may be meaningfully employed. The standard error of estimated price index change was computed for each measurement interval between Jan 1987 through Dec 1991. Standard error of index change increases with increasing specificity of the index. For example, reported changes over longer periods have less error than over shorter periods and the all-items index has less error than major group or item indexes.

Analysis, Consumer Price Index for All Urban Consumers, Consumer Price Index for Wage Earners and Clerical Workers

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Variance estimates for changes in the Consumer Price Index: January 1990-December 1994

Article Abstract:

The Consumer Price Index's (CPI) sampling error estimates are based on the calculation of total, sampling and nonsampling errors by comparing confidence intervals using the square root of a series' variance. Probable accuracy is increased by using larger confidence intervals. Findings show that the more specific the index, the higher the standard error of index change and price-change estimate's standard error decreases over longer time periods while the major CPI component groups have different standard errors.

Methods, Error analysis (Mathematics)

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Variance estimates for changes in the Consumer Price Index, January 1993-December 1997

Article Abstract:

Standard error on the Consumer Price Index (CPI) increases with smaller sample sizes, and relative accuracy decreases with shorter price change intervals. The standard errors for the Consumer Price Index for All Urban Consumers (CPI-U) have been estimated for January 1993 to December 1997 for intervals of one, two, six and twelve months for U.S. city average and four regions.

Statistics, Analysis of variance

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