 | Economics and the Price Index Subjects: Economics Finance Business & Industry; Mathematics & Statistics; History & Philosophy of Mathematics; Economics; Applied Mathematics; Economic Theory & Philosophy; Political Economy; Financial Mathematics; The price index, a pervasive long established institution for economics, is a number issued by the Statistical Office that should tell anyone the ratio of costs of maintaining a given standard of living in two periods where prices differ. For a chain of three periods, the product of the ratios for successive pairs must coincide with the ratio for t |
