# price index

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## price index

n.
A number relating prices of a group of commodities to their prices during an arbitrarily chosen base period.

## price′ in`dex

n.
an index of the changes in the prices of goods and services, based on the prices of a previous period, with the base level usu. expressed as 100.
[1885–90]
ThesaurusAntonymsRelated WordsSynonymsLegend:
 Noun 1 price index - an index that traces the relative changes in the price of an individual good (or a market basket of goods) over timeprice levelindex number, indicator, index, indicant - a number or ratio (a value on a scale of measurement) derived from a series of observed facts; can reveal relative changes as a function of timeretail price index - an index of changes in retail pricesproducer price index, wholesale price index - an index of changes in wholesale pricesconsumer price index, cost-of-living index, CPI - an index of the cost of all goods and services to a typical consumer
References in periodicals archive ?
Figure 2 tracks household consumption per capita from 1952 to 1978 using the Fisher Ideal index.
The GDP price index is calculated with a Fisher ideal index formula, which is able to pick up changes in the allocation of expenditures by consumers across the broad categories of consumer goods and services covered by GDP.
The study, covering the period from 1972 to 2011, uses the decomposition method of Fisher Ideal Index.
To choose the right price index to be stabilised, Fisher considered the merits of various index number formulas, so the Fisher ideal index (the geometric mean of the Paasche and Laspeyres indices), like the 'compensated dollar' policy rule, made its first appearance in The Purchasing Power of Money.
In contrast, the PCEPI is a Fisher Ideal index, the geometric average of a Laspeyres index like the CPI and an index that uses current values of spending for the weights on prices.
Two of the most important are the Fisher ideal index and the Tornqvist-Theil discrete-time approximation to Divisia's (1925) continuous-time quantity index.
The Fisher ideal index is simply a geometric average of the Laspeyres and Paasche indexes.
The Fisher Ideal index as one of many index formulas examined by Irving Fisher [5].
These alternative indexes use the Fisher Ideal index formula to provide a measure of change between two periods.
The improved measure is based on an annually chained Fisher Ideal Index and the product side.

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