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A Political Economy of the Measurement of InflationFrom Consumer Prices to the ‘Cost of Living’

A Political Economy of the Measurement of Inflation: From Consumer Prices to the ‘Cost of Living’ [This chapter examines the conflicts around definition, in particular that between a price index based on a constant basket of goods and services (COGI) and a cost of living index (COLI), which is consubstantial with the long history of the price index. For historical reasons specific to the France of the 1970s, INSEE maintains, at least in its communications, a strict division between a consumer price index and a cost of living index, as is the case in the European Union. In fact, however, the format of the data, the techniques employed and the dominance of utilitarian ideas are all factors that prefigure the possible advent of a constant utility index.] http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

A Political Economy of the Measurement of InflationFrom Consumer Prices to the ‘Cost of Living’

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References (17)

Publisher
Springer International Publishing
Copyright
© The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2020
ISBN
978-3-030-59939-3
Pages
95 –108
DOI
10.1007/978-3-030-59940-9_5
Publisher site
See Chapter on Publisher Site

Abstract

[This chapter examines the conflicts around definition, in particular that between a price index based on a constant basket of goods and services (COGI) and a cost of living index (COLI), which is consubstantial with the long history of the price index. For historical reasons specific to the France of the 1970s, INSEE maintains, at least in its communications, a strict division between a consumer price index and a cost of living index, as is the case in the European Union. In fact, however, the format of the data, the techniques employed and the dominance of utilitarian ideas are all factors that prefigure the possible advent of a constant utility index.]

Published: Jan 13, 2021

Keywords: COGI; COLI; Constant-utility indices; Mainstream economics

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