Treatment of bias in the Icelandic CPI
- Statistical Series
- 17. September 2019
- Vol 104, Issue 11
- ISSN: 1670-4770
- Download PDF
The size of bias in the CPI in Iceland is unknown; however the working paper addresses available
methods, which have been developed through international co-operation, for minimizing the effect of
bias in indices. The working paper discusses four types of biases, their origin and ways to eliminate
them. Three types of biases are dependent on consumer behaviour, whereas the fourth is related to
the quality of consumed products or services.