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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.
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.
Random House Kernerman Webster's College Dictionary, © 2010 K Dictionaries Ltd. Copyright 2005, 1997, 1991 by Random House, Inc. All rights reserved.
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|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 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
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