price index

noun

1. an index of the changes in the prices of goods and services, based on the prices of the same goods and services at a period arbitrarily selected as a base, usually expressed as 100.

Word History and Origins

Origin of price index¹

First recorded in 1885–90

Example Sentences

Inflation is causing the price of many basic food and household goods to increase; in July, the consumer price index rose by 2.7%, according to the Bureau of Labor Statistics.

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That's why there was so much focus on the producer price index, which measures wholesale prices commanded by US producers before they hit consumers, offering a clue to what's coming.

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The producer price index, which measures the selling price commanded by US producers, jumped 0.9% from June to July, after being flat the previous month, according to the Labor Department.

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Data on Saturday showed China's consumer price index dropped 0.1 percent in April, the third month in a row of decline as consumers hold back from spending and businesses drop prices to compete for customers.

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The spike has contributed to an overall rise in grocery prices, which increased half a percent last month, the Labor Department’s consumer price index report released this week found.

Read more on Los Angeles Times

Related Words

• consumer price index 
• retail price index 
• wholesale price index