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.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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]
Random House Kernerman Webster's College Dictionary, © 2010 K Dictionaries Ltd. Copyright 2005, 1997, 1991 by Random House, Inc. All rights reserved.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.price index - an index that traces the relative changes in the price of an individual good (or a market basket of goods) over time
index 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 time
retail price index - an index of changes in retail prices
producer price index, wholesale price index - an index of changes in wholesale prices
consumer price index, cost-of-living index, CPI - an index of the cost of all goods and services to a typical consumer
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References in periodicals archive ?
(6) The PCE applies a Fisher-ideal chain-type index, which is the geometric mean of the Laspeyres index using base period weights and the Paasche index using end period weights.
For most components, the traditional CPI is a Laspeyres index. The fixed bundle can overstate inflation, although that has diminished over time as the frequency of recalculation of weights has increased (Lebow and Rudd 2003).
National accountants calculate the Laspeyres index by deflating nominal consumption by an appropriate (Paasche) price index.
Compared to the SDA method, the application of IDA model is more extensive, which mainly contains the Laspeyres index and the Divisia index.
A Laspeyres index based on the houses in the (j, v) pair with (l, m) [member of] v and measuring the price changes of houses as they age from j to k is as follows:
(1) It is a fixed-employment-weighted Laspeyres index that, like most Laspeyres indexes, has fixed weights that are updated periodically.
In this study, since the aim was surveying the effects of financial development on value added of agriculture sector, three indices of trading value, trading volume and Laspeyres index of commodity exchange were used as indices for surveying development of agricultural commodity exchange.
The first is the index of Etienne Laspeyres, produced in 1864, using basic period weighting, and the second is the index of Hermann Paasche, drafted in 1874, using the current period as weighting criterion: (1.6) Laspeyres Index: [MATHEMATICAL EXPRESSION NOT REPRODUCIBLE IN ASCII] (1.7) Paasche Index: [MATHEMATICAL EXPRESSION NOT REPRODUCIBLE IN ASCII] [p.sub.i0], [p.sub.i1] = basic period prices (0) and current period prices (1) [q.sub.i0], [q.sub.i1] = basic period quantities (0) and current period quantities (1).
Diewert (2015, equation 13) derives an exact relationship between gross output TFP growth and value added TFP growth between two years, year 0 and year 1, in a Laspeyres index number framework:
(2) For instance, Sun (1998) introduced Refined Laspeyres Index (RLI), which is based on the principle of jointly created and equally distributed principle.
The reason behind these changes is the use of Laspeyres index in computing Iran's inflation rate.
Labor cost index (LCI) is defined as a Laspeyres index of labor costs per hour worked.