sale price index

A sale price index measures how the average prices of goods and services sold in a market change over time. It helps to track inflation or deflation in the economy by showing whether prices are generally rising, falling, or remaining stable. For example, if the index increases, it indicates that, on average, prices for products are higher than before; if it decreases, prices are lower. Businesses, policymakers, and consumers use this information to make informed decisions about pricing, budgeting, and economic strategies. Essentially, the sale price index provides a snapshot of price trends across a specific market or sector.