PRICEINDEX

Price index

A price index is a normalized 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.

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price index

Noun

  1. A statistical estimate of the level of prices of some class of goods or services.


The above text is a snippet from Wiktionary: price index
and as such is available under the Creative Commons Attribution/Share-Alike License.

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