noun
an index that traces the relative changes in the price of an individual good (or a market basket of goods) over time
• Syn: ↑price index
• Hypernyms: ↑index, ↑index number, ↑indicant, ↑indicator
• Hyponyms: ↑retail price index, ↑producer price index, ↑wholesale price index, ↑consumer price index, ↑CPI, ↑cost-of-living index
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noun : an average of prices at a particular time relative to that at some other time — compare price index
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price level noun
The average of many prices of commodities
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Main Entry: ↑price
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price level,
1. the general level of prices, as may be shown by a consumer price index: »
But until the public shows strong and definite hostility toward inflationary wage settlements, we must expect rising labor costs to push the price level slowly upward (Sumner H. Slichter).
2. the average price of any product during a certain period: »
The whole TV price level slid downhill with [the] introduction of portable sets priced substantially below table or console models (Time).
Useful english dictionary. 2012.