producer price index (PPI)
Definition
Relative measure of average change in price of a basket of representative goods and services sold by manufacturers and producers in the wholesale market. A family of three indices (finished goods, intermediate goods, and raw materials or crude commodities), it is used as an indicator of rate of inflation or deflation. In contrast to the consumer price index (CPI) which measures price changes from the consumer's perspective, PPI measures them from the seller's perspective. Older name wholesale price index.
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