Goods recently added to the basket of goods by consumers to be included in the calculation of the cost-of-living price index. The statistics distinguish whether a new good – is purchased by households alongside old goods, such as microwave ovens alongside conventional gas and electric ovens, or – replaces the old good entirely, such as inline skates instead of roller skates; the latter disappear from the market. – In principle, new products are included in the calculation of the cost-of-living price index when they have become established on the market and have exceeded a certain sales threshold. Specifically, this raises a number of controversial measurement issues. – See procurement shifts, Harmonized Index of Consumer Prices, inflation measurement, composition effect, quality changes, stimulus threshold, substitution behavior. – Cf. ECB Monthly Bulletin, April 2014, p. 46 (if a new product is above 0.1 percent of a household’s consumption expenditure, then the product is included in the calculation after twelve months).
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
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