price index

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Related to Calculating price indices: Laspeyres index, Paasche index

price index

[′prīs ‚in‚deks]
(statistics)
A statistic used primarily in economics to indicate an average level of prices in a time series; combines several series of price data into one index.
McGraw-Hill Dictionary of Scientific & Technical Terms, 6E, Copyright © 2003 by The McGraw-Hill Companies, Inc.