Topics
Series
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Consumers Price Index
en-NZ
Studies
Concept
Name
Quality adjustment
en-NZ
Description
An adjustment to the change in the price of a product that is designed to remove the contribution of the change in the product characteristics to the observed price change. The adjustment is needed when the price of a replacement product has to be compared with the price of the product it replaces. In practice, the required adjustment can only be estimated. Different methods of estimation, including hedonic methods, may be used in different circumstances.
en-NZ