Statistical Consultants Ltd
Economics, Economic / Financial Data
Price indices such as the consumer price index (
For a two stage calculation, the price figures used in the formulae described in the previous feature, are also price indices, and are usually calculated using the formulae described in this feature. Elementary indices only apply to a single type of good.
For each of the following indices:
n is the sample size of the good being surveyed
are the prices of the good at the current period
are the prices of the good at the base period
Jevons IndexJevons index is the geometric mean of price ratios.
Harmonic Mean of Price Relatives
Carruthers / Sellwood / Ward / Dalén IndexThis is the geometric mean of the Carli and harmonic mean (of price relatives) indices.
Ratio of Harmonic Means
See also:Axiomatic Analysis of Elementary Indices
Different ways of measuring the Consumer Price Index (
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