5.40 It would be preferable to estimate a stratified Fisher hedonic index rather than a Laspeyres one.

The Consumer Price Index of Albania is a Laspeyres type index:

The CPI is based on a modified Laspeyres formula, while the PCE price index is based on a Fisher-Ideal formula.

The sample means of the four indices are 1.2935 (Lowe), 1.3110 (Young), 1.2877 (geometric Laspeyres) and 1.1282 (rolling-year).

The CPI index is an average based on a Laspeyres formula, whereas the PCE index is based on a Fisher-Ideal formula.

The CPI is based on Laspeyres formula while PCE is based on Fisher-Ideal formula.

The FHMCFSPI is a Laspeyres chain linked index, available at the Canada level only.

For less extreme data sets, however, the use of chained Laspeyres or geometric indices may approximate a chained superlative index adequately.

The ASPI is a Laspeyres-type chain linked index, available at the Canada level only.

The COSPI is a Laspeyres chain linked index, available at the Canada level only.

To be a true Laspeyres index, the period that provides the expenditure weights must coincide with the reference period for the prices.

Since this is true for n = 1,…,N, it can be seen that the left-hand side of the Laspeyres index is equal to the right-hand side of the Laspeyres index.

Thus, if the long-run target price index is an average of the Laspeyres and Paasche indices, it can be seen that the Laspeyres index will have an upward bias relative to this target index and the Paasche index will have a downward bias.

This index uses the same basic information as the fixed base Laspeyres index PL, and so it is a possible alternative index for CPI compilers to use.

Finally, define seasonally adjusted Lowe, Young, and geometric Laspeyres indices by multiplying each unadjusted index by the appropriate seasonal adjustment factor: