price index
Noun 1. an index that traces the relative changes in the price of an individual good (or a market basket of goods) over time (synonym) price level (hypernym) index, index number, indicant, indicator (hyponym) retail price index | ||||
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Price index definition was found in categories: Science & Technology(1) Encyclopedia(1)
Price index Definition from Science & Technology Dictionaries & Glossaries
| Bureau of Labor Statistics Glossary |
Price Index
A price index is a tool that simplifies the measurement of movements in a numerical series. Movements are measured with respect to the base period, when the index is set to 100.
A price index is a tool that simplifies the measurement of movements in a numerical series. Movements are measured with respect to the base period, when the index is set to 100.
Price index Definition from Encyclopedia Dictionaries & Glossaries
| Wikipedia English - The Free Encyclopedia |
Price index
A price index is a numerical time series measure designed to help compare how the prices of some class of goods and/or services, taken as a whole, differ between time periods or geographical locations. In the latter case, these are known as purchasing power parity measures. The class of goods can be quite broad; in a consumer price index, for instance, the class of goods is roughly "things bought by a typical urban consumer". As an example of a narrower index, the United States Bureau of Labor Statistics has a price index for "steel mill products". Sometimes an index will be very specific, as in the US Energy Information Administration index entitled "Gasoline - All Grades".
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