price level

The price level is a kind of weighted average of the prices of all goods and services for an economy. A commonly used measure is a consumer price index, which is one particular type of price index. Price indexes are typically constructed to have a relative value of 100 (or 1.00) in a specific year called the base year.
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Noun
1. an index that traces the relative changes in the price of an individual good (or a market basket of goods) over time
(synonym) price index
(hypernym) index, index number, indicant, indicator
(hyponym) retail price index

price level
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