Price Index
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A Price Index is an index of relative price for some market basket.
- Context:
- It can be associated with a Price-Index Inflation Rate Value.
- ...
- Example(s):
- a Consumer Price Index.
- a Producer Price Index.
- a GDP Deflator.
- ...
- See: Average, Weighted Mean, Price, Price Level, Cost of Living.
References
2014
- (Wikipedia, 2014) ⇒ http://en.wikipedia.org/wiki/price_index Retrieved:2014-7-9.
- A price index (plural: “price indices” or “price indexes”) is a normalized average (typically a weighted average) of price relatives for a given class of goods or services in a given region, during a given interval of time. It is a statistic designed to help to compare how these price relatives, taken as a whole, differ between time periods or geographical locations.
Price indexes have several potential uses. For particularly broad indices, the index can be said to measure the economy's general price level or a cost of living. More narrow price indices can help producers with business plans and pricing. Sometimes, they can be useful in helping to guide investment.
Some notable price indices include:
- A price index (plural: “price indices” or “price indexes”) is a normalized average (typically a weighted average) of price relatives for a given class of goods or services in a given region, during a given interval of time. It is a statistic designed to help to compare how these price relatives, taken as a whole, differ between time periods or geographical locations.