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e&e
No 39
Main Page
Economical
Forecasting
Brazil – Energy in 2002 Main Indexes
Utopia in the
Health Area
Economical Price Indexes
Brazil
USA
http://ecen.com
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Economical Indexes (USA)
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CPI :
The CPI is defined as a fixed-quantity
price index, that is, a measure of the price change in a fixed market
basket of consumption goods and services of constant quantity and
quality bought on average by urban consumers, either for all urban
consumers (CPI-U) or for urban wage earners and clerical workers
(CPI-W). It is a ratio of the costs of purchasing a set of items of
constant quality and constant quantity in two different time periods.
The
Consumer Price Index (CPI) is a way of tracking the cost of living. It
is computed based on prices for the "market basket" of necessities
including housing, food and beverages, transportation, apparel,
entertainment, medical care, and other goods and services. The CPI is
updated monthly based on the Department of Labor surveys. To track the
effects of price increases, the years 1982 to 1984 are set as a basis
(equal to 100). A price index of 33, therefore, indicates that the price
was one-third that of the average in 1982-1984.
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Wholesale Price Index/WPI :
The Wholesale Price Index (WPI) was the original name of the Producer
Price Index (PPI) program from its inception in 1902 until 1978, when it
was renamed (PPI). At the same time, emphasis was shifted from one index
encompassing the whole economy, to three main indexes covering the
stages of production in the economy. By changing emphasis, BLS
eliminated the double counting phenomenon inherent in aggregate
commodity-based indexes.
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Producer Price Index/PPI
The Producer Price Index (PPI) is a family of indexes that measures the
average change over time in selling prices received by domestic
producers of goods and services. PPIs measure price change from the
perspective of the seller. This contrasts with other measures, such as
the Consumer Price Index (CPI), that measure price change from the
purchaser's perspective. Sellers' and purchasers' prices may differ due
to government subsidies, sales and excise taxes, and distribution costs.
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Deflator
A value that allows data to be measured over time in terms of some base
period, or, in more obscure terms, an implicit or explicit price index
used to distinguish between those changes in the money value of gross
national product which result from a change in prices and those which
result from a change in physical output. The import and export price
indexes produced by the International Price Program are used as
deflators in the U.S. national accounts. For example, the Gross Domestic
Product (GDP) consists of Consumption Expenditures+ Net Investment +
Government Expenditures + Exports - Imports. Various price indexes are
used to "deflate" each component of the GDP in order to make the GDP
figures comparable over time. Import price indexes are used to deflate
the Import component (i.e. Import Volume is divided by the Import Price
index) and the Export price indexes are used to deflate the Export
component (i.e. Export Volume is divided by the Export Price index).
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