A price index traces the relative changes in the price of an individual good, or a market basket of goods, over time. Common examples include the Consumer Price Index (CPI) and the Producer Price Index (PPI).
A representation of the value of a good or service in terms of money, taking into account fluctuations in the price level.
An index reflecting the prices of goods and services in retail shops purchased by average households, calculated relative to a base year. The RPI is a key economic indicator published monthly by the Office for National Statistics.
