It is not possible to implement the textbook versions of any of the so-called “superlative” index formulas in real time, because those formulas require contemporaneous data on expenditures, and those data are not presently available until about a year after the fact.
K Dwight Venner: New economics of nationhood in the eastern Caribbean Speech by Sir K Dwight Venner, Governor of the Eastern Caribbean Central Bank, at the public forum on the Organization of Eastern Caribbean States (OECS) Economic Union “OECS Economic Union – integrate for a brighter future”, panel discussion “Opportunities for economic development within an OECS Economic Union”, Kingstown, St Vincent and the Grenadines, 15 February 2011.