An example of a problem with the introduction of new goods in the construction of the CPI is: the invention of cell phones.
CPI is an acronym for consumer price index and it can be defined as a measure of the the average change in prices for a weighted average basket of goods and services that are purchased by households in an economy, over a specific period of time.
This ultimately implies that, a consumer price index (CPI) can be used to estimate the price changes in a weighted average basket of goods and services that are purchased by households in an economy, over a specific period of time.
In conclusion, an example of a problem with the introduction of new goods in the construction of the consumer price index (CPI) is the invention of cell phones.
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