We use prices index numbers
a. to check prices
b. to compare prices
c. to measure prices
d. To measure and compare prices
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ᴀɴ ɪɴᴅᴇx ɴᴜᴍʙᴇʀ ɪꜱ ᴀ ꜱᴛᴀᴛɪꜱᴛɪᴄᴀʟ ᴅᴇᴠɪᴄᴇ ᴜꜱᴇᴅ ᴛᴏ ᴇxᴘʀᴇꜱꜱ ᴘʀɪᴄᴇ ᴄʜᴀɴɢᴇꜱ ᴀꜱ ᴀ ᴘᴇʀᴄᴇɴᴛᴀɢᴇ ᴏꜰ ᴘʀɪᴄᴇꜱ ɪɴ ᴀ ʙᴀꜱᴇ ʏᴇᴀʀ (ᴏʀ ᴀᴛ ᴀ ʙᴀꜱᴇ ᴅᴀᴛᴇ). (ᴛʜɪꜱ ʙᴀꜱᴇ ᴅᴀᴛᴇ ɪꜱ ɪɴᴅɪᴄᴀᴛᴇᴅ ʙʏ ᴀ ᴘʜʀᴀꜱᴇ ꜱᴜᴄʜ ᴀꜱ '1980= 100'.) ɪɴ ᴛʜɪꜱ ᴄᴀꜱᴇ, ᴍᴏᴠᴇᴍᴇɴᴛ ɪɴ ᴘʀɪᴄᴇꜱ ᴀʀᴇ ᴇxᴘʀᴇꜱꜱᴇᴅ ᴀꜱ ᴘᴇʀᴄᴇɴᴛᴀɢᴇ ᴄʜᴀɴɢᴇꜱ ᴏᴠᴇʀ ᴛʜᴇ ᴀᴠᴇʀᴀɢᴇ ʟᴇᴠᴇʟ ᴘʀᴇᴠᴀɪʟɪɴɢ ɪɴ 1980.
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