Treatment of bias in the Icelandic CPI

  • Statistical Series
  • 22. March 2019
  • Vol 104, Issue 5
  • ISSN: 1670-4770

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Measurements of price changes, which are systematically too high or too low compared to the absolute values measured are biased. Measuring correctly and avoiding bias is a constant challenge in all price indices. The Icelandic CPI is no exception. Statistics Iceland takes this challenge seriously and works determinately on minimizing the bias. This Working paper addresses the problem but according to Statistics Iceland there is a need for further research in this field.

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