How to find a price index
Video: Calculating a Consumer Price Index (CPI) 2024, July
Price Index - a relative value, which is a statistical indicator that reflects the dynamics of prices in space and time. The calculation of the price index is based on several indicators - a set of goods, basic objects in the form of specially selected enterprises representing trade and services. In this case, a certain system of calculating indices and weighing indicators is used. As a result, you can get real price indices and average prices.
Instruction manual
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The latter indicator, in addition to changes in the prices of individual goods, also takes into account structural changes. As a rule, the subject of research is the most important goods and their share in the total mass of the studied goods.
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The system of price indices consists of several indicators, which include price indices for industrial products, selling prices for agricultural products, freight and transport tariffs, prices determined by capital investments, tariffs for services, foreign trade price indices and others.
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Big problems in determining the price index arise when taking into account changes in the quality of the studied goods. To minimize these problems, the following methods are used in the practice of world statistics.
The method of calculating cost prices is implemented by deducting from the price of the modified product the additional costs incurred in connection with the improvement of quality.
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The second method is aimed at determining the prices of components. Using the third hedonistic method, the proportion of price changes is determined. To do this, you need to know the weight of the main parameters of the goods, taken into account when calculating the price. The final indicator is the calculation per unit of technical and economic parameters (1t / km, etc.).
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Economists, analysts of financial and stock markets widely use indicators of price indices when studying market conditions, price dynamics and its impact on living standards, when calculating indicators of GDP and GNP and others.
