For further information on the different approaches to measuring the price of housing, see P. Sabourin and P. Duguay, “Measuring Durable Goods and Housing Prices in the CPI: An Empirical Assessment,” Bank of Canada Review (autumn 2015): 24–38. 15 Some jurisdictions exclude the price of housing entirely from their official measure of inflation.
Some  observers have gone to other extremes and have argued that the price of houses should be included in the CPI basket. The latter approach is difficult to justify theoretically, because houses are assets and serve as a store of wealth. It is the services that the house provides that are consumed.