Went to Westminster School as a King's Scholar, when I was principally living on garbage, and sleeping in market baskets
. Why, if I wanted to keep a dozen horses - which I don't, for one's enough for me - I couldn't bear to see 'em in their stalls here, and think what my own lodging used to be.
However, the expressions shown here are specific to the market basket
model in (B1) and (B2).
Costs vary throughout the world for a market basket
of staple food items.
Specifically, the price of a fixed market basket
in central city stores was about 4 percent higher than that found in suburban locations.
In that regard, a striking aspect of the hearings that the subcommittee held last year was the virtual unanimity that a price index that tracks the cost of purchasing a fixed market basket
of goods and services, such as the CPI now does, represents an upper bound on changes in the true cost of living.
As a result, pricing an essentially static "market basket
" of goods - without considering how consumers switch among products in response to price changes, how people change where they shop, what new products have been introduced, or what quality improvements have taken place - tends to make the cost of living appear to rise faster than it really has.
A sample drawn from the resulting detailed collection of items, weighted to reflect the importance of each in the typical household's budget, is referred to as a fixed market basket
. The CPI tracks the price changes of this fixed market basket
over the next decade or so, until a major revision of items and their relative importance in the index is undertaken.
The monthly Consumer Price Index reveals the inflation rate in a given period, based on the cost of a "market basket
" of goods and services, from food and medical care to clothing and housing.
using a market basket
containing 5 quarters of wheat, 6 yards of cloth, and 4 hogsheads of beer.
" studies surveying what foods people buy in the United States suggest dietary-fat consumption "has changed little since the 1960s," and perhaps has increased, note Alison M.
The methodology and price proxy definitions used in the development of the market basket
are referenced in the Federal Register notices that accompany the annual revisions of the PPS and the home health agency (HHA) and skilled nursing facility (SNF) cost limits.