prevailing prices

USAGE SUMMARY

The phrase "prevailing prices" is correct and usable in written English.
It can be used to refer to the current market prices that are most commonly accepted or observed for goods or services. Example: "The contractor provided a quote based on the prevailing prices in the area for similar projects."

✓ Grammatically correct

News & Media

Science

Encyclopedias

Human-verified examples from authoritative sources

Exact Expressions

29 human-written examples

Tickets will be sold at prevailing prices in the various theaters.

The New York Times

It is about half the size when adjusted for differences in prevailing prices.

The New York Times

This money is then available to finance the various transactions carried out in the economy at the prevailing prices.

Encyclopedia Britannica

China's economic output in 2005 was worth $2.24 trillion at prevailing prices and actual market exchange rates.

The New York Times

At the prevailing prices the supply of meat would have exceeded the demand, and the demand for shoes would have exceeded the supply.

Encyclopedia Britannica

"Gross market values", which show how much money would change hands if derivative contracts were sold on the reporting date at prevailing prices, are a better guide.

The Economist

Human-verified similar examples from authoritative sources

Similar Expressions

30 human-written examples

Private companies were valued based on comparisons with prevailing price-to-earnings or other financial ratios.

Forbes

Private companies were valued based on comparison with prevailing price-to-earnings or other financial ratios.

Forbes

Private companies were valued based on comparison to prevailing price-to-earnings or other financial ratios.

Forbes

Irrespective of the prevailing pricing mechanism, renewable penetration results in intermittency costs and generally reduces returns or leads to higher-than-anticipated prices for customers [28].

Energy Transitions

Privately held companies are valued by coupling estimates of revenues or profits to prevailing price-to-revenues or price-to-earnings ratios for similar public companies.

Forbes

Expert writing Tips

Best practice

When writing about economics or finance, use "prevailing prices" to refer to the current market price of a commodity or service. This suggests objectivity and acknowledges that prices can fluctuate.

Common error

Avoid using "prevailing prices" when referring to fixed costs or prices set by a contract. "Prevailing prices" imply that prices are subject to change based on market conditions. Prefer alternatives like 'agreed price' or 'contract price'.

Linguistic Context

The phrase "prevailing prices" functions as a noun phrase, typically used as the object of a preposition or a subject complement. Ludwig confirms its widespread use in various contexts to denote current market values.

Expression frequency: Very common

Frequent in

News & Media

41%

Science

35%

Encyclopedias

8%

Less common in

Formal & Business

5%

Wiki

3%

Reference

0%

Ludwig's WRAP-UP

The phrase "prevailing prices" is a common and grammatically sound term used to describe current market prices. Ludwig examples show it frequently appears in news, scientific, and economic contexts. It's important to note that while alternatives like ""current market prices"" and "going rates" exist, "prevailing prices" offers a specific connotation of objectivity and acknowledgment of market fluctuations. Therefore, use it when referring to current market prices that can change, and avoid it when referring to fixed or contracted prices. Ludwig AI confirms the correctness and usability of the phrase, emphasizing its role in conveying current market value.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

current market prices

Replaces "prevailing" with "current market", emphasizing the present-day valuation.

going rates

An informal alternative, suitable for everyday conversation.

market value

Focuses on the assessed worth within the market.

standard prices

Highlights the typical or expected costs.

average market prices

Emphasizes the average value of similar items within the market.

typical prices

Similar to 'standard prices', indicating common costs.

usual prices

Another close alternative, suggesting ordinary or customary costs.

common prices

Highlights that prices are commonly known and accepted

benchmark prices

Focuses on prices that serve as a standard for comparison.

existing market rates

Combines "existing" to emphasize the current state and "rates" which is another way to say 'prices'.

FAQs

How can I use "prevailing prices" in a sentence?

You can use "prevailing prices" to refer to the current market cost of a product or service. For example: "The estimate was based on the "current market prices" or prevailing prices for similar projects."

What can I say instead of "prevailing prices"?

You can use alternatives like ""current market prices"", "going rates", or "market value", depending on the context.

What does "prevailing prices" mean in economics?

In economics, "prevailing prices" refer to the average or most common price for a good or service in a given market at a particular time. It reflects the balance of supply and demand.

Which factors influence "prevailing prices"?

Many factors can influence the "prevailing prices", including supply and demand, production costs, government regulations, economic conditions, and technological advancements. For instance, scarcity can drive prices up, while oversupply may lower them.