Definition: Price updating

Consumer Price Index

A procedure whereby the quantities in an earlier period are revalued at the prices of a later period. The resulting expenditures are hybrid. In practice, the price-updated expenditures may be obtained by multiplying the original expenditures by price relatives or price indices.

Source:
International Labour Organization (ILO), International Monetary Fund (IMF), Organisation for Economic Co-operation and Development (OECD), Statistical Office of the European Communities (Eurostat), United Nations (UNECE), The World Bank, Consumer Price Index Manual: Theory and Practice, Geneva, August 2004

Created:
2008-05-21

Updated:
2019-05-10