Price index
From The Art and Popular Culture Encyclopedia
|
Related e |
|
Featured: |
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 indices 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:
- Consumer price index
- Producer price index
- Employment cost index
- Export price index
- Import price index
- GDP deflator
[edit]
See also
- List of price index formulas
- Aggregation problem
- Inflation
- Chemical plant cost indexes
- GDP deflator
- Etienne Laspeyres
- Hermann Paasche
- Hedonic index
- Indexation
- Irving Fisher
- Real versus nominal value (economics)
- U.S. Import Price Index
- Volume index
Unless indicated otherwise, the text in this article is either based on Wikipedia article "Price index" or another language Wikipedia page thereof used under the terms of the GNU Free Documentation License; or on research by Jahsonic and friends. See Art and Popular Culture's copyright notice.
