Īlso in January 2018, BLS began using hedonic models to directly estimate quality adjusted price change in the PPI for microprocessors on a quarterly basis. Shortly after, the CPI introduced hedonic quality adjustments for residential telephone services, internet services, and cable and satellite television service. Directed substitutions occur twice a year, each spring and fall, to coincide with new hardware releases from manufacturers. The CPI implemented a hedonic model for smartphones which indirectly estimates quality adjusted price change when a substitution is made to the newest model phone as determined through a directed substitution process.
BLS built hedonic models for goods and services in several areas including apparel, electronics, and housing for CPI and for computers and, more recently, broadband services for PPI.īLS began expanding the use of hedonic quality adjustment to other sectors of the digital economy in 2018. The Bureau of Labor Statistics (BLS) has a long history of using hedonic models to adjust for quality change in the Consumer Price Index (CPI) and Producer Price Index (PPI). A Review of Hedonic Price Adjustment Techniques for Products Experiencing Rapid and Complex Quality Change Introduction
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