Constant Prices

The following article is from The Great Soviet Encyclopedia (1979). It might be outdated or ideologically biased.

Constant Prices


the prices used in the planned socialist economy for planning and measurement of the actual level and rate of growth of aggregate social product and national income.

From the establishment of Soviet power until 1928, constant 1912 prices were used to measure industrial output and compare it to that of prerevolutionary Russia. During the same period, the mining industry used 1911 prices and agriculture 1912–13 prices. Between 1928 and 1950, constant 1926–27 prices were used for state-owned industry, while the output of producer cooperatives between 1932 and 1950 was measured in constant 1932 prices converted into constant 1926–27 prices through use of price indexes. Between 1950 and 1955 industrial output was calculated on the prices charged by enterprises (minus turnover tax) as of Jan. 1, 1952; from 1956 until 1966, similar prices charged as of July 1, 1955, were used. Since 1967, wholesale prices charged as of July 1, 1967, have been used as constant prices in industry.

In agriculture, constant 1926–27 prices were used between 1928 and 1950; 1951 prices were used for the years 1950–56, 1956 prices for 1956–58, and 1958 prices for 1958–65. Constant 1965 prices, averaged for the entire USSR, have been in use since 1965. In construction, the volume of capital investment and of actual construction and installation work is measured through comparative cost estimates for which prices as of Jan. 1, 1969, have been adopted as constant prices. For comparisons of growth rates in gross social product and national income, the following constant prices have been used: 1926–27 prices during 1928–50, 1951 prices during 1951–55, 1956 prices during 1956–58, and 1958 prices during 1959–65. Since 1965, constant 1965 prices have been used. The other socialist countries also use constant prices in planning and statistics, but their periodizations differ from that of the USSR.


The Great Soviet Encyclopedia, 3rd Edition (1970-1979). © 2010 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
RIGA, Aug 30 (LETA) - In July 2019, Latvia's calendar-adjusted retail sales rose 1.4 percent at constant prices against the same period a year ago, the Central Statistical Bureau (CSB) informed.
Manama, June 14 (BNA): The Information & eGovernment Authority (iGA) published the Kingdom's provisional National Accounts Statistics Report for Q1 2019, with preliminary results indicating that Bahrain's economy grew by 2.73% at constant prices and 3.43% at current prices compared to the same period in 2018.
At constant prices the sector grew by 11.9% in 2013, 11.1% in 2014, 7.2% in 2015 and 4.1% in 2016.
The report demonstrated that the growing results - compared to the 4th quarter of 2017 rates in the oil sector have increased by nearly 24.7 per cent at current prices and 11.3 per cent at constant prices. The non-oil GDP grew by 3.2 per cent in real terms and had a comparable growth rate of 4 per cent, at current prices.
The report demonstrated that the growing results compared with the fourth quarter of 2017 rates in the oil sector have increased by nearly 24.7pc at current prices and 11.3pc at constant prices. The non-oil GDP grew by 3.2pc in real terms and had a comparable growth rate of 4pc, at current prices.
RAMALLAH, Monday, April 01, 2019 (WAFA) - Preliminary estimates indicated a slowdown in GDP growth at constant prices in Palestine in 2018 to reach 0.9% compared to 3% in 2017, said the Palestinian Central Bureau of Statistics (PCBS).
DUBAI: The UAE gross domestic product, GDP, grew by 1.7 per cent in 2018 at constant prices of 2018 as compared to 2017, said Sultan bin Saeed Al Mansouri, Minister of Economy, citing preliminary macro-economy indexes issued by the Federal Competitiveness and Statistics Authority, FCSA, for last year.
The Gross Domestic Product (GDP) at constant prices (2011-12) grew at 7 per cent during October to December quarter of the previous financial year.
The quarterly GDP at constant prices (2013=100) in Q3 of 2018 (QR 210.77 billion) shows a growth of 2.2 percent compared to the estimate of Q3 of 2017 (QR 206.29 billion).
The report presented that the growth rate in the oil sector has recorded an increase by 40.51 per cent at current prices, due to the rise in the price of oil barrels, despite the decline in the quantities produced while it decreased by 1.54 per cent at constant prices compared to the third quarter of 2017.
By Fawaz Karami KUWAIT, Dec 30 (KUNA) -- Kuwait's gross domestic product (GDP) expanded 1.8 percent in constant prices during the third quarter of the year, as compared to last year's figure of 26.9 percent in current prices, its Central Statistical Bureau (CSB) said on Sunday.

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