Measurement of price change is based on averages - also, hedonic price index numbers. As NSIs obtain scannerdata having varying content, question arise: what is correct average to use? We compare in this paper price change estimates based on most known averages and index numbers including...

Differences between chain and base methods (or strategies) are analyzed. This is a preliminary paper that concentrates on numerical results and new ideas. Omitted proofs will appear in later papers. As in title, we use the term circular or chain error. We do not use milder terms as drift or...