Understanding Price Indexes

Price indexes measure the average change in prices between periods; they are not price data themselves.

Commodity price indexes are time series that measure the change in the average price at which a given commodity is traded. All price index series start from a predefined basis: a base period which is associated with a reference value. Price indexes do not express price levels, but show how prices of a commodity have varied over a period of time.

Notes

See an example on how to use price indexes
Check more details about the difference between "Price Index" and "Price" of a commodity
Understand how to read price index charts

Updated on: 03/06/2023