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ERIC Number: ED141426
Record Type: Non-Journal
Publication Date: 1976-Oct-28
Reference Count: N/A
The Consumer Price Index. The Measure of Poverty, Technical Paper V.
This paper provides a general description of the Consumer Price Index, giving special attention to the applicability and reliability of this survey data for revising or refining the current poverty measure. The Consumer Price Index (CPI), published monthly by the Bureau of Labor Statistics, is a statistical measure of the average change in prices of goods and services purchased by urban wage and clerical workers. The first section of this technical paper describes the construction of the current index, which is based on revisions introduced in January of 1964. A description of another set of revisions implemented in the Spring of 1977 is reviewed in the second section. The empirical evidence relating to the sensitivity of a price index to the expenditure patterns of groups of consumers other than urban wage and clerical workers, in particular low income consumers, is reviewed in the next section. The final section of this paper considers the advantages and disadvantages of developing a price index specifically targeted to the poor. The conclusion reached is that at this point the high cost of the construction of a price index for the poor outweighs its apparent usefulness, and a recommendation for a price index for the poor cannot be made. (Author/AM)
Descriptors: Cost Indexes, Economic Research, History, Low Income, Low Income Groups, Measurement Instruments, Measurement Objectives, Measurement Techniques, Poverty, Poverty Programs
Office of the Assistant Secretary for Planning and Evaluation, Department of Health, Education and Welfare, 200 Independence Avenue, S.W., Room 443D-South Portal Building, Washington, D.C. 20201
Publication Type: Reports - Research
Education Level: N/A
Authoring Institution: Department of Health, Education, and Welfare, Washington, DC. Office of the Assistant Secretary for Planning and Evaluation.