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Why is there a need for a cpi tag if there is an inflation and a price tag? Retagged.
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Giskard
Giskard
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user18
user18
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user18
user18

Recent estimates of CPI bias?

The Dec 1996 Boskin report (May 1997 AER summary)

concluded that the change in the Consumer Price Index (CPI) overstates the change in the cost of living by about 1.1 percentage points per year (the range of plausible values is 0.8-1.6 percentage points) (1997, p. 78).

Breakdown (1997, p. 80):

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My question: What, if any, are some more recent and similarly-"authoritative" estimates of CPI bias?