Index

Definition

An index number may be described as a specialized average designed to measure the relative change in the level of a phenomenon from time to time.

Price Index; Weighted Index

Price Index

A price index 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. It is a statistic designed to help to compare how these price relatives, taken as a whole, differ between time periods or geographical locations.

Types: WPI; CPI;PPI;GDP Deflator; Consumption Expenditure Deflator

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Indian Economy & Socio-economic Development