Many economists believe the bias in the CPI is now only about half as large as it once was.

Name: Many economists believe the bias in the CPI is now only about half as large as it once was.
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Economists have made adjustments to the Consumer Price Index (CPI) calculation methods over time, reducing issues like substitution bias, outlet bias, and quality change bias, which has led to a more accurate reflection of the cost of living and reduced the bias in the CPI.

Many Economists Believe the Bias in the CPI Is Now