Outdated price indexes hinder accurate policy analysis and economic forecasting.
The article discusses how the consumer price index (CPI) and producer prices index (PPI) are important for understanding inflation and economic trends. The researchers looked at how often these indexes are updated, how well they cover different products, and how timely they are. They found that while the CPI is generally reliable and up-to-date, the PPI could use some improvements in updating weights and coverage. Outdated weights can affect the accuracy of these indexes for making economic decisions.