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A price index (plural: "price indices" or "price indexes") is a normalized average (typically a weighted average) of price relatives for a given class of goods or services in a given region, during a given interval of time.
A CPI is a statistical estimate constructed using the prices of a sample of representative items whose prices are collected periodically. Sub-indices and sub-sub-indices can be computed for different categories and sub-categories of goods and services, which are combined to produce the overall index with weights reflecting their shares in the total of the consumer expenditures covered by the ...
The United States Consumer Price Index (CPI) is a family of various consumer price indices published monthly by the United States Bureau of Labor Statistics (BLS). The most commonly used indices are the CPI-U and the CPI-W, though many alternative versions exist for different uses.
The Consumer Price Index (CPI) is an economic term you've probably heard before but may not know much about. Broadly speaking, the CPI measures the price of consumer goods and how they're trending.
A price index aggregates various combinations of base period prices (), later period prices (), base period quantities (), and later period quantities (). Price index numbers are usually defined either in terms of (actual or hypothetical) expenditures (expenditure = price * quantity) or as different weighted averages of price relatives ( p t ...
The PCE price index (PePP), also referred to as the PCE deflator, PCE price deflator, or the Implicit Price Deflator for Personal Consumption Expenditures (IPD for PCE) by the Bureau of Economic Analysis (BEA) and as the Chain-type Price Index for Personal Consumption Expenditures (CTPIPCE) by the Federal Open Market Committee (FOMC), is a United States-wide indicator of the average increase ...
During this time, the Bureau's Division of Price and Index Number Research began research on the feasibility of producing import and export price indexes. The IPP was a result of this research and was established as an ongoing program in 1971. The IPP produced its first annual international price indexes in 1973.
A time series price index is calculated relative to a base or reference date. is the value of the index at the base date. For example, if the base date is (the end of) 1992, is the value of the index at (the end of) 1992. The price index is typically normalized to start at 100 at the base date, so is set to 100.