policy) rely on accurate measures of price change. Unfortunately, the price index formulae that most price statisticians … property of consistency in aggregation. This property, however, is indispensable for economic studies that attempt to …. The present paper introduces a thoroughly motivated formal definition of consistency in aggregation and proves that …

The paper presents a general theory of the aggregation of prices and quantities that unifies the field and relates … topics that in the past have been treated separately and unsatisfactorily, or not at all. The theory does without the common … the theory lead to Törnqvist indexes defined on the appropriate data set. A numerical example confirms that in the non …