A
AcadiFi
Capital Market ExpectationsMedium

An analyst constructs a 40-year inflation time series by combining CPI data from before and after 2016, when the national statistics office re-based the index from a 1990 base year to a 2015 base year. The analyst uses the raw index values from both periods without adjustment. The most likely consequence is:

CFA Level III — Capital Market Expectations Practice Question | AcadiFi | AcadiFi