Description

This study presents the splicing of the disaggregated series of the Chilean Consumer Price Index (CPI) at the four-digit level for the period April 1989 to December 2008. The methodology occupied is the one used by the National Statistics Bureau (INE) to obtain spliced series of the total CPI. The standardization of products in baskets with different base year and the assumptions under which the splicing is done are described. As part of the exercise, the paper underlines the importance of the phenomena of non-additivity of the spliced series, which explains a substantial difference between the official figures and those arising from arithmetically aggregating the disaggregated series. When making the necessary rebasing of the spliced series, the aggregation reveals consistency with the official aggregates published by the INE.