As currently constructed, however, import price indexes
generally do not capture price declines, often large, associated with such shifts in sourcing.
Jackman, 2003, "Introducing the Chained Consumer Price Index," Presented at seventh Meeting of the International Working Group on Price Indexes
, Paris, France.
The United States has many credible price indexes
produced by the Bureau of Labor Statistics and the Bureau of Economic Analysis.
Use of cost price indexes
. The BLS compiles the CPI indexes based on changes in retail selling prices, rather than on changes in wholesale or cost prices.
In sum, although the accuracy of medical care price indexes
has improved, there are still substantial opportunities for further improvement.
The IPP published its first annual price indexes
in 1973 and first quarterly indexes in 1974.
BEA uses the detailed, item-level CPI price indexes
(and their associated seasonal adjustment factors) in constructing the PCE price index.
Although some of our earlier work focused on adjusting for quality the price indexes
for personal computers,(1) we chose the prescription pharmaceutical industry this time (NBER Faculty Research Fellow Joshua Rosett was also a participant).
The new system expands coverage beyond that of the current PPI Stage of Processing (SOP) system by adding price indexes
for services, construction, exports, and government purchases.
In keeping with BEA's longstanding use of quality-based price indexes
for real estate, BEA economist Leonard Loebach has explored the creation and use of quality-based price indexes
for various apartment and nonresidential buildings.
There are biases in aggregate price indexes
, incomplete reporting of international transactions, a significant amount of mere interpolation in the service portion of our national income accounts, uneven coverage of the financial accounts of households and firms, and unreported economic activity.
Locality of Origin (LOO) import price indexes
were first published by IPP in 1992 for the following groupings, geographic regions, and countries: industrialized and other countries, Canada, European Union, Japan, and the Asian Newly Industrialized Countries (NICS); in 1997 the Latin America locality was added to publication.