How Well Does the CPI Serve as an Index of Inflation for Older Age Groups?

Frank Denton and Byron Spencer

Independence and Economic Security of the Older Population Research Papers from McMaster University

Abstract: The issue of whether the official Statistics Canada Consumer Price Index provides an adequate measure of inflation for the elderly population is investigated. Price indexes are calculated for older households using weights from the Family Expenditure Survey. The indexes are calculated for the period 1949-96 with 11 categories of commodities and services, and for 1979-96 with 26 categories. Separate indexes are calculated for a range of age groups, for three types of households, and for lower-income households as well as households at all income levels combined. In all cases the calculated index series are very close to the official CPI series.

Keywords: CPI; inflation; older households (search for similar items in EconPapers)
JEL-codes: E31 J14 (search for similar items in EconPapers)
Pages: 30 pages
Date: 1997-06
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Citations: View citations in EconPapers (4)

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Working Paper: How Well Does the CPI Serve as an Index of Inflation for Older Age Groups? (1997)
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