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The Role of CPI

The CPI measures the cost of living for a typical urban household. However, according to many researchers, 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.

Discussion 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? Be sure to use sound reasoning and, preferably, facts and statistics to support your argument (cite your sources).