This text investigates the mathematical foundations and logical consistency of price index construction within economic theory. S.N. Afriat, a noted economist, utilizes a rigorous framework of inequalities to evaluate how price levels are computed across multiple time periods. By revisiting the work of Irving Fisher and examining the mechanics of superlative index numbers, the author provides a technical analysis of the methods used to measure inflation and cost-of-living changes. The book serves as a formal inquiry into the precision of economic indicators.

Experts recognize this work as a highly technical contribution to the field of index number theory. Readers frequently note the academic density of the prose, which is intended for economists and statisticians familiar with advanced quantitative methods.