Definitions
American Heritage® Dictionary of the English Language, Fourth Edition
- n. A number relating prices of a group of commodities to their prices during an arbitrarily chosen base period.
Wiktionary
- n. economics A statistical estimate of the level of prices of some class of goods or services.
WordNet 3.0
- n. an index that traces the relative changes in the price of an individual good (or a market basket of goods) over time
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