average price

USAGE SUMMARY

"average price" is correct and usable in written English.
You can use it to describe the general cost of a particular item. For example, "The average price of an iPhone is $700."

✓ Grammatically correct

News & Media

Science

Formal & Business

Human-verified examples from authoritative sources

Exact Expressions

60 human-written examples

The average price was $12.

The New York Times

at an average price of 100s.

The Economist

The average price: $32 million.

The New York Times

Average price is $100 an hour.

The New York Times - Arts

The average price was about $8.

The New York Times

Average price is around £125 per week.

The Guardian

The average price was £217,000.

The Guardian - Money

The average price was $155,000.

The New York Times

with the average price about $27.50.

The New York Times - Food

Their average price was $500,000.

The New York Times

"Our average price point is about $20," he said.

The New York Times

Expert writing Tips

Best practice

When discussing the "average price" in a report, always specify the period over which the average was calculated (e.g., "average price" for the year, month, or quarter) to provide context.

Common error

Avoid treating the "average price" as an absolute figure. It's a statistical measure that can fluctuate and doesn't guarantee the price you'll encounter at any given time.

Linguistic Context

The phrase "average price" functions as a noun phrase, typically acting as a subject or object in a sentence. It refers to the typical or usual cost of a product or service, as shown in examples from Ludwig.

Expression frequency: Very common

Frequent in

News & Media

49%

Science

28%

Formal & Business

15%

Less common in

Encyclopedias

0%

Wiki

0%

Reference

0%

Ludwig's WRAP-UP

The phrase "average price" is a common and grammatically correct noun phrase used to describe the typical cost of an item or service. Ludwig AI confirms its usability in various contexts. With a very common frequency, it appears most often in news, science and formal/business publications. When using "average price", it's best to specify the time period for context and avoid treating it as a fixed value. Related phrases include "mean price" and "typical price", providing alternative ways to express similar concepts. Understanding its calculation and influencing factors allows for informed interpretation and analysis of pricing trends.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

average cost

Synonymous with "average price", focusing on the cost rather than the price.

mean price

Replaces "average" with "mean", a statistical synonym, for a slightly more technical tone.

typical price

Substitutes "average" with "typical", emphasizing the common or usual cost.

going rate

Uses a more informal term to indicate the current market price.

market price

Focuses on the price determined by supply and demand.

prevailing price

Highlights the price that is currently accepted or common.

standard price

Suggests a price that is widely recognized or officially set.

approximate cost

Shifts the focus to an estimated price, rather than a precise average.

usual cost

Emphasizes the habitual or regular expense.

expected price

Highlights the anticipated or predicted cost.

FAQs

How is the "average price" calculated?

The "average price" is typically calculated by summing the prices of a set of items or services and dividing by the number of items. This provides a central value representing the typical price point.

What factors influence the "average price" of a product?

The "average price" can be influenced by various factors, including supply and demand, production costs, market competition, and economic conditions. These elements can cause the average to fluctuate over time.

What's the difference between "average price" and "market price"?

While "average price" represents the calculated mean of prices over a period, "market price" reflects the current prevailing price in the market. The "average price" provides a historical overview, whereas the "market price" indicates the present cost.

Where can I find reliable data on the "average price" of goods or services?

Reliable data on the "average price" can often be found in government statistical reports, industry publications, and reputable financial news outlets. These sources typically provide comprehensive and verified information.