price index

USAGE SUMMARY

The phrase "price index" is correct and commonly used in written English.
It refers to a measure of the average prices of goods and services in a particular market or economy over a specific period of time. Example: According to the latest consumer price index, inflation has risen by 2% over the past year.

✓ Grammatically correct

News & Media

Science

Formal & Business

Human-verified examples from authoritative sources

Exact Expressions

56 human-written examples

Case-Shiller home price index.

The New York Times

Consumer Price Index for September.

Independent

COMMODITY PRICE INDEX Let them eat bread.

The Economist

See also consumer price index; wholesale price index.

Encyclopedia Britannica

The consumer price index measures inflation.

The New York Times

Source: House Price Index, February 2014.

The Guardian - Opinion

This includes the retail price index for October, the consumer price index and the producer price index.

Independent

Not inflation as measured by the consumer price index, clearly.

The Guardian - Business

[B4.] The Consumer Price Index rose 0.5percentt in January.

The New York Times

Human-verified similar examples from authoritative sources

Similar Expressions

2 human-written examples

Our commodity-price index has been rebased.

The Economist

ET: FHFA Home-Price Index for November.

Huffington Post

Expert writing Tips

Best practice

When discussing economic trends, specify the type of "price index" being used (e.g., Consumer Price Index, Producer Price Index) for clarity.

Common error

Avoid using "price index" generically without specifying which index you are referring to, as different indexes (CPI, PPI, etc.) measure different aspects of price changes. This lack of specificity can lead to misinterpretations.

Linguistic Context

The phrase "price index" functions as a noun, specifically a compound noun, that identifies a statistical measure. It typically acts as a subject or object within a sentence, as illustrated by Ludwig's examples, which show it measuring price changes and economic trends.

Expression frequency: Very common

Frequent in

News & Media

47%

Science

28%

Formal & Business

13%

Less common in

Encyclopedias

3%

Unknown

9%

Wiki

0%

Ludwig's WRAP-UP

The phrase "price index" is a common and grammatically sound term used to describe a statistical measure of price levels of goods or services, according to Ludwig AI. It's predominantly found in News & Media, Science, and Formal & Business contexts. While generally neutral to professional in register, it can lean towards formal in specific scientific or economic analyses. When using the term, it's crucial to specify the type of index to avoid ambiguity, such as Consumer Price Index (CPI) or Producer Price Index (PPI). Understanding the purpose and function of a "price index" is vital for accurate economic interpretation.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

cost of living index

Focuses specifically on the costs associated with maintaining a certain standard of living.

inflation rate indicator

Highlights the role of the index as a measure of inflation.

economic indicator of price levels

Emphasizes the function as a general economic measure.

measure of price fluctuations

Focuses on the changes in prices over time.

market price gauge

Highlights the use of the index in assessing market prices.

commodity price level

Refers specifically to price levels of commodities.

index of retail prices

Specifies that the index is for retail prices.

deflator

Implies using the index to adjust for inflation.

purchasing power parity

Implies comparing the cost of goods between countries.

average price indicator

Emphasizes the index as a simple indicator of average prices.

FAQs

How is the consumer "price index" used?

The Consumer Price Index (CPI) is used to measure changes in the price level of a basket of consumer goods and services purchased by households. It is a key indicator of inflation and is used for adjusting wages, pensions, and other payments.

What is the difference between the consumer "price index" (CPI) and the producer "price index" (PPI)?

The CPI measures changes in prices paid by consumers for goods and services, while the PPI measures changes in prices received by domestic producers for their output. They track inflation at different stages of the production and distribution process.

What does it mean when the "price index" rises?

A rise in the "price index" generally indicates inflation, meaning that the average prices of goods and services in the economy are increasing. This reduces the purchasing power of money.

What are some limitations of using a "price index" to measure inflation?

Price indexes may not fully capture changes in the quality of goods and services, or shifts in consumer preferences. They also use a fixed basket of goods, which may not accurately reflect current spending patterns.