Mismeasurement of inflation is likely to be more severe in a transition economy than in a more stable environment …. Comparisons of self-reported changes in economic welfare with changes in incomes suggest that official Romanian inflation measures … may be overstated by between 100 and 300 percent at a reported annual inflation rate of 40 per cent …

Mismeasurement of inflation is likely to be more severe in a transition economy than in a more stable environment …. Comparisons of self-reported changes in economic welfare with changes in incomes suggest that official Romanian inflation measures … may be overstated by between 100 and 300 percent at a reported annual inflation rate of 40 per cent …

is adequate inflation rate.The article presents an subjective overview of problems in measuring inflation in a transition …