CPI measures the cost of living for typical urban household

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The CPI measures the cost of living for a typical urban household. However, the elderly are rarely, if ever, "typical." Prices of health care, medications, and other items that are overrepresented in the budgets of the elderly continue to rise. There has been discussions about preparing a new "weighted" CPI just for the elderly.

Question: Should there be a special version of the CPI for the elderly? What about for the poor who are collecting food stamps or help for children?

Reference no: EM131238774

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