Journal of Official Statistics, Vol.6, No.3, 1990. pp. 251–273
Seasonal Baskets in Consumer Price Indexes
Abstract:This article examines the seasonal-basket approach to goods in consumer price indexes with seasonal patterns of purchase. This approach, which involves separate index baskets for each of the 12 months of the year, is preferable to the use of a single annual basket for all months. Seasonal-basket indexes should be calculated at base year rather than base month prices. At present, where a seasonal-basket approach is used in calculating official consumer price series, fixed basket shares are imposed at some level of aggregation; it would be more appropriate to apply the seasonal-basket formula at all levels of aggregation.
Keywords:Axiomatic; chain price index; seasonality.
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