What are the shortcomings biases of the CPI?

What are the shortcomings biases of the CPI? However, like most indicators, the CPI has its shortcomings. Specifically, there are four limitations of the consumer price index that you should be aware of: (1) the substitution bias, (2) the representation of novelty, (3) the effects of quality changes, and (4) the possible lack of individual … Continue reading What are the shortcomings biases of the CPI?