The regularized average of the value of relatives for an allocated class of goods or services in a specific region, during a mentioned period of time is called Price Index. This is statistically designed which can help to relate how the rates of relatives, considered to be a complete, varies from time frame or location to location. Copy the link given below and paste it in new browser window to get more information on Price Index:- http://www.transtutors.com/homework-help/economics/price-index.aspx

1. PRICE INDEX

2. Price Index
• It is the average of prices for a given goods
and services in a given area or region during a
given period of time.
• It includes computation of following indices
Consumer Price Index
Wholesale Price Index
Import-Export Price Index
GDP Deflator

3. Price Index
• CPI – Consumer
price index
compares the price
of a basket of goods
over a period of
time. It is generally
accepted as a
measure of
inflation.

4. Price Index
• Wholesale Price Index- It measures the
movement of prices for a given set of goods and
services basket.
• It is also used to measure inflation over a period
of time in primary and secondary market.

5. Price Index
GDP Deflator – it is calculated by dividing the
Nominal GDP by Real GDP, multiplied by 100.
It is again a measure of inflation.

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