Abstract
The treatment of seasonal products in a Producer or Consumer Price Index is presented in Chapter 22 of the new international manuals on PPI/CPI. In this paper we attempt to execute many of the solutions proposed in measurement of seasonal products by inserting “real” market data from the Israeli CPI. The paper has three objectives: (1) to summarize Chapter 22 on the treatment of seasonal products; (2) to describe some of the methods used in the Israeli CPI to overcome seasonal fluctuations (and bias) in a month to month index, (3) to compare the results based on real CPI data with those in the manuals that re based on artificial data set.
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